Proposal bars top officials from holding or promoting digital assets, drawing Democratic opposition over enforcement provisions.
Senate Republicans unveiled an updated CLARITY Act that prohibits the president, vice president, members of Congress, and federal judges from owning or promoting paid digital assets while in office. The bill mandates officials sell crypto holdings or place them in blind trusts, with violations subject to civil enforcement by the Department of Justice.
The revised text retains prior provisions on BRCA, stablecoin rewards, and self-custody while adding measures to combat crypto-related crimes. These include increased funding for investigations, law enforcement training, and a cyber center targeting nation-state threats. Democrats oppose the DOJ enforcement authority, signaling bipartisan friction.
Market reaction remains unclear as the proposal advances through legislative review, with potential implications for regulatory oversight of digital assets.