US Senate Releases Updated Clarity Bill, Incorporating Developer Protection and Digital Asset Ethics Provisions

TechFlow News, July 23, according to The Block, Senate Republicans have released the latest text of the Clarity Act, integrating previous versions from the Agriculture Committee and the Banking Committee, and plan to submit it for a Senate floor vote as early as next week.

The new version of the bill adds a digital asset ethics provision, prohibiting public officials and their spouses from issuing or sponsoring digital assets, but still allowing investment in related assets; this provision will expire at noon on January 20, 2029. The bill also incorporates the "Blockchain Regulatory Certainty Act," providing a legal safe harbor for non-custodial software developers, clarifying that they are not considered money transmitters. Overall, the bill has made progress in advancing U.S. digital asset market structure legislation, but whether it can gain sufficient support from Democrats remains uncertain.