Trump backs Republican Clarity Act proposal with stronger ethics rules and DeFi/stablecoin concessions; Democratic crossover support uncertain ahead of Tuesday vote.
DeFi & Yields ·
Senate Republicans unveiled a revised Clarity Act on Sunday, described as their "last, best and final offer," ahead of a Tuesday cloture vote that will determine whether the bill advances. The measure requires 60 votes to proceed, meaning Republicans need at least seven Democratic crossovers. The revised text includes stronger ethics rules that Trump has now endorsed, featuring divestment requirements or blind trusts for covered officials, state attorney general enforcement authority, and removal of a sunset clause that would have expired the restrictions in January 2029. The package also makes concessions on other contested areas, including modifications to the Blockchain Regulatory Certainty Act and new stablecoin "circuit breaker" language.
The ethics framework represents a significant shift from Trump's earlier resistance. The updated proposal incorporates approximately 80% of an ethics counteroffer previously submitted by Senators Thom Tillis and Ruben Gallego, expanding the definition of covered officials to include elected but not-yet-sworn individuals and their spouses. Republicans characterize the revised bill as incorporating more than 120 Democratic demands, with Senator Cynthia Lummis framing a no vote as opposing ethics reforms and weakening U.S. digital asset leadership.
Industry sentiment has turned cautiously optimistic. Galaxy Digital's Alex Thorn raised his 2026 passage odds from 10% to 25% following the Sunday release. However, it remains uncertain whether sufficient Democrats will cross party lines on Tuesday, and the condensed timeline continues to present a structural challenge to passage.