Clarity Act Revision Bans Federal Officials from Issuing Tokens Until 2029

A revised version of the Clarity Act bill has been unveiled by U.S. Senate Republicans, which includes an ethics provision that would ban federal officials from issuing or sponsoring tokens until 2029.

The provision would also apply to U.S. President Donald Trump and his family members who are involved in cryptocurrency businesses. The White House described the provision as the most comprehensive and far-reaching ethics rule in history.

Under the bill, public officeholders, federal officials, and their spouses would be barred from issuing or sponsoring digital assets. Enforcement would be handled by the U.S. Justice Department, not state governments.

The ban is not permanent, but rather would expire on January 20, 2029, which is the last day of Trump's second term. Some Democrats have expressed concerns about the provision, with Senator Angela Alsobrooks stating that she would not support the bill if it remains worded as it is.