US Senate Republicans release new version of the CLARITY Act text, incorporating a revised ethics provision agreed to by Trump.

BlockBeats news, September 14: Crypto reporter Eleanor Terrett posted that U.S. Senate Republican lawmakers have released a new version of the "CLARITY Act" text, incorporating a revised ethics clause agreed to by Trump, and simultaneously adjusting the "Blockchain Regulatory Certainty Act" (BRCA), stablecoin yield, and the so-called "Ag clause," among other content. Republicans said this is the "last, best, and final" offer presented to Democrats ahead of Tuesday's procedural vote.

On the BRCA front, the new text narrows the scope of the relevant provisions to the Bank Secrecy Act and civil enforcement, and deletes wording that extended protections to criminal cases, including lawsuits brought under the "Section 1960 clause." On the ethics provisions, Trump agreed to what Republican aides described as about 80% of the Tillis-Gallego proposal, including requiring relevant individuals to sell "substantial" crypto-related financial interests or place them in a blind trust, while allowing state attorneys general to participate in enforcing the ethics clause, which the White House had previously opposed.

On stablecoin yield, the new text adds a "circuit breaker" mechanism proposed by Senator Tillis in July, under which federal regulators could intervene if there are signs of large-scale flows from community bank deposits into stablecoins, with Treasury Secretary Bessent responsible for the relevant determination. On the "Ag clause," the new text further strengthens restrictions on vertical integration, including related-party transactions and conflicts of interest involving digital commodity trading platforms, brokers, and dealers, while clarifying that state consumer protection laws still apply, and providing that developer protections will not constitute an exemption under derivatives law and will not affect prediction markets.