Senate Republicans Release Updated Clarity Act Banning Trump and Officials From Issuing Crypto, With 2029 Sunset

According to Bitcoin Magazine, Senate Republicans released an updated Clarity Act draft on Wednesday that bars the President, Vice President, members of Congress, federal judges, and their spouses from issuing or sponsoring digital assets in exchange for consideration. The ban extends to covered federal employees and includes a safe harbor allowing officials to place crypto holdings in a qualified blind trust or divest them entirely.

The ethics provisions expire at noon on January 20, 2029, marking the end of the current presidential term. The move addresses months of controversy over President Trump's crypto ventures, including approximately $1.4 billion in 2025 income tied to the $TRUMP token and World Liberty Financial. The 616-page bill, negotiated between the White House and Republican Senators Cynthia Lummis and Bernie Moreno, lacks Democratic support at present, though Senate Majority Leader John Thune plans a floor vote in coming weeks.