Tuesday Vote Puts Revised CLARITY Act to Procedural Test

Senate Republicans released a revised 635-page CLARITY Act text on Sunday, two days ahead of a Tuesday procedural vote that will determine whether the bill can advance toward floor consideration. The proposal revises rules concerning federal officials’ digital-asset interests, stablecoin rewards, and protections for developers, miners and validators.

A Republican aide described the proposal to reporters as a final offer to Democrats, according to Politico. The procedural vote is scheduled for Tuesday at 2:15 p.m. ET, and it will determine whether the Senate can move the measure toward floor consideration.

Republicans Release Final CLARITY Act Text Ahead of Senate Vote

The revised text was released by Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis, alongside Chairmen John Boozman and Tim Scott. The 635-page proposal includes changes to the Blockchain Regulatory Certainty Act, or BRCA, as well as provisions governing stablecoin yield.

Lummis said the final text reflects a year of bipartisan negotiations and incorporates 126 changes requested by Democrats. The figure is higher than the 114 substantive, distinct changes requested by Democrats and agreed to by Republicans that Lummis’s office identified in material reported by The Hill on September 10, which concerned an earlier stage of the negotiations.

The timing puts the revised proposal directly ahead of the Senate’s next procedural test. Tuesday’s vote concerns whether the chamber can advance the CLARITY Act toward floor debate, rather than final passage of the measure. Republicans have presented the newly released version as a final offer, seeking Democratic support after negotiations over the bill’s regulatory and ethics provisions. More background on the bill’s procedural path is available in CoinNews’ earlier coverage of the CLARITY Act’s September vote.

Ethics Rules and Other Changes in the Revised Bill

The revised text would allow state attorneys general to enforce restrictions on federal officials issuing, sponsoring or holding significant financial interests in digital assets. It would also cover exchanges that list assets in violation of those restrictions. The enforcement approach addresses a central point of debate around the bill’s ethics language.

Covered individuals would be required to divest significant financial interests or place them in a qualified blind trust. Violations would carry civil penalties of $500,000 or 20% of the amount received in the prohibited transaction, whichever is greater. The ethics provisions would take effect 360 days after enactment, or sooner if implementing regulations are finalized.

On stablecoins, the Treasury secretary would be required to introduce rules restricting rewards if the department determines that community banks are losing deposits on a substantial scale. That authority would expire 18 months after the bill becomes law. The stablecoin language follows debate over whether rewards offered by crypto firms could affect bank deposits and lending capacity.

The revised BRCA retains protections against treating developers as money transmitters or financial institutions under the Bank Secrecy Act. It extends those protections to miners and validators, which were previously excluded from the shield. The text also removes references to Section 1960 of Title 18 of the U.S. Code, which concerns unlicensed money-transmitting businesses.

Other changes would strengthen safeguards around affiliate trading and conflicts of interest at digital commodity exchanges, brokers and dealers. The proposal also clarifies how existing consumer-protection laws apply to digital-asset intermediaries. Together, those provisions address the treatment of participants across several parts of the digital-asset market rather than establishing a final outcome for every regulatory question facing the sector.

Lummis’s Case for Democratic Support

Lummis said the new ethics provisions had been agreed to by President Donald Trump. She described the final text as the product of a year of intense, daily bipartisan negotiations and said the restrictions would rank among the toughest applied to federally elected officials, judges and their spouses in U.S. history.

Her push for support comes as Democrats and some Republicans have continued to voice concerns about the bill. Reporting from The Hill identified ethics as a central Democratic concern, while some Republican lawmakers raised reservations about the stablecoin provision. The final text therefore combines changes aimed at ethics enforcement with provisions addressing stablecoin rewards, market conduct and legal protections for certain digital-asset participants.

The procedural threshold for advancing the bill is 60 votes. Whether the revised language attracts enough support to meet that threshold will be decided by the Senate’s Tuesday vote. Republicans have called this round of changes their final offer, but the available evidence does not establish how individual senators will vote.

What the Vote Could Mean for Crypto Regulation

The bill’s immediate regulatory stakes are defined by the changes in the released text: rules for officials’ digital-asset interests, potential restrictions on stablecoin rewards, and legal protections for developers, miners, validators and digital-asset intermediaries. It also addresses safeguards around affiliate trading and conflicts of interest, while clarifying the application of consumer-protection laws.

The available text does not support broader claims about how every token would ultimately be classified as a security or commodity. The Senate vote is a procedural step on the CLARITY Act, and any later floor consideration could still shape the measure’s path. For that reason, the provisions in the released proposal are the clearest guide to what is immediately at issue.

Prediction-market odds for the CLARITY Act becoming law in 2026 reached 35% on Monday, their highest level since late July, according to Polymarket data cited in the primary reporting. That figure is a market-based estimate of the bill’s chance of becoming law, not a forecast for the price of Bitcoin or other digital assets. Readers looking for how this legislative catalyst might factor into portfolio decisions can review CoinNews’ analysis of crypto positioning ahead of the CLARITY Act vote.

The Tuesday Procedural Vote Is the Next Test

The immediate catalyst is Tuesday’s 2:15 p.m. ET procedural vote. It will determine whether the Senate can proceed toward floor consideration of the CLARITY Act; it will not itself determine whether the bill ultimately becomes law.

Republicans have pitched the revised text as their final offer to Democrats, making the vote the next concrete test of the negotiations that produced the new version. The outcome will show whether the proposal can clear the 60-vote procedural requirement. The available evidence does not establish what would happen if the vote fails, including whether further negotiations or changes to the bill would follow.

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