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Revised Clarity Act draft would bar top officials from issuing crypto

The draft includes a January 20, 2029 sunset and could also bar listings of digital assets tied to covered officials who violate the ban.

Reported · Written up by our desk · Regulation

Senate Republicans unveiled an updated Clarity Act draft that would add a temporary ban on top federal officials issuing or sponsoring digital assets, while keeping other pro-crypto provisions in place, according to Bitcoin Magazine.

The proposed ethics language would cover the president, vice president, members of Congress, federal judges, and other covered officials, and extend the restriction to their spouses during their service. It would also bar the listing of any digital asset found to have been issued or sponsored in violation of the ban.

The draft provides a safe harbor intended to help covered individuals avoid violations through steps such as placing a direct interest in a digital asset into a qualified blind trust, divesting, or doing both, following procedures aligned with existing ethics rules under section 208 of title 18.

The ethics package is set to expire at noon on January 20, 2029, and the draft says no penalties would apply after that sunset for conduct on or before the expiration date, a timeline that matches the end of the current presidential term. Bitcoin Magazine also notes the text responds to an ongoing Clarity Act dispute tied to disclosures about President Trump’s crypto ventures.

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