[DigitalToday intern reporter Seung-a Yoo] U.S. Senate Republicans released a final revised version of the Clarity bill, a crypto market-structure measure, to secure Democratic backing. It includes public ethics rules accepted by U.S. President Donald Trump, protections for blockchain developers and regulations on stablecoin profits.

On Sept. 14 (local time), foreign media including blockchain outlet Cointelegraph reported that Senate Republicans released the revised Clarity bill two days ahead of a procedural vote scheduled for Sept. 15. Cynthia Lummis (신시아 루미스), chair of the Senate Banking Committee’s digital assets subcommittee, John Boozman (존 부즈먼), chair of the Senate Agriculture Committee, and Tim Scott (팀 스콧), chair of the Senate Banking Committee, jointly put forward the revisions.

The 635-page revision also includes provisions related to the Blockchain Regulatory Certainty Act, or BRCA, and rules on stablecoin profits. Lummis said Trump agreed to the ethics provisions. She also said the text reflects 126 changes made at Democrats’ request during a year-long bipartisan negotiation process.

The biggest change is an ethics provision limiting conflicts of interest involving federal officials and digital assets. The revision bans federal officials from issuing or sponsoring digital assets and from holding significant financial interests in digital assets. It also restricts exchanges from listing such prohibited assets and allows state attorneys general to enforce the related bans.

Those covered must dispose of significant digital asset interests or place them in a qualified blind trust. Violations would carry a civil penalty of $500,000 (672.4 million won) or 20 percent of the amount received from prohibited transactions, whichever is greater. The ethics provision takes effect 360 days after the law is implemented, and it can be applied earlier if implementing rules are prepared before then.

Lummis said Trump voluntarily accepted part of what she called "some of the strictest ethics rules in U.S. history" that apply to federally elected officials and judges, and their spouses.

Provisions on stablecoins were also revised. If the Treasury Secretary determines that significant deposit outflows are occurring at regional banks, the revision would require the adoption of rules restricting stablecoin rewards. This authority ends 18 months after the law is implemented.

BRCA-related provisions keep existing safeguards that do not treat blockchain developers as money transmitters or financial institutions under the Bank Secrecy Act. They expand the scope to include miners and validators, which had previously been excluded. The revision also removes references to Title 18, Section 1960 of the U.S. Code regarding the ban on unlicensed money transmission.

It also strengthens safeguards on affiliate transactions and conflicts of interest involving digital commodity exchanges and broker-dealers, and clarifies the scope of consumer protection laws.

The revisions were presented as Republicans’ final proposal to secure the bipartisan support needed to pass the bill by strengthening public official ethics rules, a key Democratic demand. The procedural vote scheduled for Sept. 15 requires 60 votes to advance the bill to floor consideration. Republicans hold 53 seats, leaving them needing support from Democratic lawmakers.