Clarity Act Revisions Add Ethics Rules Trump Once Resisted — SkimNews
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- Senate Republicans released a revised Clarity Act Sunday as their 'last, best and final offer,' with a Tuesday cloture vote requiring 60 votes and at least seven Democratic crossovers.
- Trump signed off on tougher ethics rules he'd previously resisted — including divestment or blind trusts, state AG enforcement, expanded covered officials (including those elected but not yet sworn in and their spouses), and no sunset date — adopting about 80% of the Tillis-Gallego July counteroffer, despite reporting $1.4B+ from family crypto ventures and roughly $635M from his TRUMP meme coin.
- The revised Blockchain Regulatory Certainty Act drops explicit Section 1960 criminal-prosecution protections, which Galaxy's Alex Thorn called a 'setback' and which preserves the legal theory used to convict Tornado Cash developer Roman Storm.
- Stablecoin 'circuit breaker' language was added allowing the Treasury Secretary to intervene if deposit flight from community banks occurs, while the Tillis-Alsobrooks yield agreement remained intact — a partial concession aimed at bank-allied Sens. Jerry Moran (R-KS) and Josh Hawley (R-MO).
- Galaxy's Alex Thorn raised his 2026 Clarity Act passage odds from 10% to 25% following the new text, while warning the tight legislative calendar remains a major hurdle.
Why it matters: Trump's reversal on ethics rules — Democrats' top complaint about his $1.4B crypto holdings — could unlock the seven crossover votes needed Tuesday, but the bill also drops Section 1960 criminal-prosecution shields for developers, which Thorn called a 'setback' even while raising passage odds from 10% to 25%.
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