Senate Republicans released a new draft of the Clarity Act early Wednesday, which includes an ethics provision that the White House and President Donald Trump agreed to.
Sen. Bernie Moreno, one of the top Republicans on the bill, said in a post on X (formerly Twitter) early Wednesday that it was “the most powerful ethics language in American history.”
“Don’t listen to the DC Democrat lies,” his post said.
The ethics provision has been a pending issue for more than a year, dating back to the Senate’s work on the stablecoin-focused National Innovation Guidance and Establishment for U.S. Stablecoins (GENIUS) Act last year, but the issue gained renewed focus in recent weeks after Trump shared his latest financial disclosure showing he earned more than $1.4 billion from his crypto ventures in 2025.
It is unclear when the bill could reach the Senate floor, although Republican Majority Leader John Thune’s office told CoinDesk that it still plans to move forward in the coming days.
The Senate leaves town after August 7 for summer recess, and the Senate has other business to deal with as well. It will take 60 votes to advance, meaning up to 10 Democrats may need to vote in favor of the bill. “We have been working in good faith with our Republican colleagues over the past year and will continue to do so to get this over the finish line,” the Democratic lawmakers said.
