Revised CLARITY Act Prohibits Presidents, Spouses from Issuing Digital Assets for Compensation

A revised version of the CLARITY Act has been proposed, which includes new ethics rules that would prohibit presidents, vice presidents, and other senior public officials, along with their spouses, from issuing or sponsoring digital assets for compensation while in office.

The proposal is part of a broader rewrite of the legislation, which also expands the Commodity Futures Trading Commission's (CFTC) oversight of digital commodity markets.

The ethics provisions are among the most notable additions to the bill, arriving amid growing scrutiny of crypto ventures linked to public officials.