U.S. Senate Republicans released a final revised version of the Clarity bill to win Democratic support for a crypto market-structure measure. The 635-page text includes ethics rules accepted by President Donald Trump, protections for blockchain developers and changes to stablecoin reward provisions. It would bar federal officials from issuing, sponsoring or holding significant financial interests in digital assets and allow enforcement by state attorneys general. Violations could draw civil penalties up to $500,000.

U.S. Treasury Secretary Scott Bessent urged the Senate to hold an immediate vote on the Clarity Act, a digital asset market structure bill. He said Democrats are delaying for political reasons and warned the United States could lose leadership without clear rules. Bessent defended the bill’s consumer protection and anti-illicit finance provisions and backed a clause codifying Treasury policy on decentralized developers. Negotiations remain stalled over ethics provisions.