Republicans Make Their Final CLARITY Act Offer Before Tuesday Vote
Senate Republicans have released a new CLARITY Act package ahead of Tuesday's crucial procedural vote, making late concessions on government ethics, stablecoin yield, blockchain developers and conflicts inside digital asset markets as the bill enters its most consequential Senate test.
Summary:
- Trump accepted tougher crypto ethics restrictions.
- Stablecoin yield gets a deposit safeguard.
- Blockchain developer protections were narrowed.
- Crypto market conflicts face tighter restrictions.
Republicans put their final CLARITY offer on the table
Crypto in America journalist Eleanor Terrett reported Sunday that Senate Republicans had released revised provisions following negotiations over several of the issues that remained unresolved in the previous draft.
According to Terrett, Republicans are describing the package as their “last, best and final” offer ahead of the September 15 cloture vote. The revisions cover ethics, the Blockchain Regulatory Certainty Act, stablecoin yield and provisions governing digital commodity markets.
🚨NEWS: Senate Republicans have released new Clarity Act text featuring a revised ethics proposal agreed to by President Trump.
The text also contains changes to the sections on the Blockchain Regulatory Certainty Act (BRCA), stablecoin yield, and the so-called “Ag title.”…
— Eleanor Terrett (@EleanorTerrett) September 14, 2026
The scale of the broader rewrite has also increased. Republican senators now say the legislation incorporates 126 substantive changes requested by Democrats, up from 114 cited with the previous draft.
The most politically significant movement, however, came from the White House.
Trump accepts most of tougher crypto ethics proposal
President Donald Trump agreed to approximately 80% of a bipartisan ethics counterproposal developed by Republican Sen. Thom Tillis and Democratic Sen. Ruben Gallego, according to the Associated Press.
The new framework goes beyond simply preventing covered officials from issuing digital assets.
Officials with a sufficiently significant financial interest in a crypto issuer could be required to divest that interest or place it in a blind trust. State attorneys general would also receive enforcement authority alongside the Justice Department, another major change from the previous approach.
That second provision addresses an unusual enforcement problem created by presidential crypto holdings. Relying exclusively on the Justice Department would leave an executive-branch agency responsible for enforcing conflict-of-interest restrictions potentially involving the president overseeing that branch.
The practical impact will depend on where the legislation sets the threshold for a “significant” interest. That number will determine which holdings actually trigger divestment or blind-trust requirements.
Stablecoin yield gets a circuit breaker
Terrett also reported a new compromise addressing the fight between crypto companies and community banks over stablecoin rewards.
The proposal adds “circuit breaker” language that would allow intervention if evidence shows widespread deposit migration from community banks into payment stablecoins.
Banks have argued that yield-like stablecoin products could encourage customers to move cash away from conventional deposits, potentially reducing the funding available for lending. Crypto companies have resisted rules that could prevent stablecoin products from competing with banks.
READ MORE: Senate Democrats Now Hold Crypto’s Legislative Future
The circuit-breaker approach makes the response conditional rather than imposing a blanket restriction from the outset.
That puts the eventual trigger at the center of the economics. Regulators would need to determine what qualifies as sufficiently large deposit flight, how the movement is measured and what restrictions activate once the threshold is crossed.
The issue has already generated an aggressive lobbying battle. Reuters reported that crypto and banking groups spent the congressional recess targeting senators in their home states ahead of the vote.
BRCA protections become narrower
Another revision changes the Blockchain Regulatory Certainty Act, which is designed to clarify when developers of non-custodial blockchain software should not be treated as financial intermediaries merely because others use their code.
According to Terrett’s reporting on the latest package, BRCA protections have been narrowed around the Bank Secrecy Act and civil enforcement, while language extending protections into criminal cases has been removed.
The proposal also clarifies that protections for blockchain developers do not create an exemption from derivatives laws or determine how prediction markets are regulated.
That creates a clearer separation between who builds the infrastructure and what financial activity takes place on it.
A developer could receive protection for maintaining non-custodial software without every product using that software inheriting the same regulatory treatment.
Crypto conglomerates face tighter guardrails
The latest package also targets conflicts created when crypto companies control several stages of a transaction.
Terrett reported tighter restrictions covering vertical integration, affiliate trading and conflicts of interest involving digital commodity exchanges, brokers and dealers. The text also clarifies that state consumer-protection laws continue to apply.
Those provisions could have significant structural consequences.
Crypto groups can combine functions such as trading, brokerage, custody and other services within affiliated companies. Restrictions on affiliate transactions could therefore affect not only compliance requirements but how vertically integrated platforms organize their businesses.
Three thresholds could determine what the rewrite really changes
The Senate’s September 15 cloture vote will decide whether CLARITY moves into floor consideration rather than whether the legislation becomes law.
The more important regulatory questions sit inside the compromises themselves.
If the bill advances, watch the ownership threshold that triggers mandatory divestment, the level of community-bank deposit migration that activates the stablecoin circuit breaker, and the activities ultimately excluded from BRCA protections.
Those three details will determine whether Sunday’s rewrite produces modest legal adjustments or materially changes how politicians, stablecoin businesses and blockchain developers operate under the proposed U.S. crypto framework.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
