CLARITY Act Draft Bars US Officials From Issuing Tokens Until 2029 As Senate Push Builds

A revised draft of the Digital Asset Market CLARITY (CLARITY) Act would temporarily bar US federal officials, including President Donald Trump, from issuing or sponsoring digital assets until Jan. 20, 2029, marking one of the strongest ethics proposals yet for the crypto industry.

As senators get ready for a potential floor vote, the revised Senate draft has rekindled discussion in Washington. At the same time, Senator Cynthia Lummis, CFTC Chairman Mike Selig, and Coinbase CEO Brian Armstrong have all publicly called on Congress to advance the measure, claiming that clear crypto regulations are now desperately needed.

The president, vice president, members of Congress, federal judges, and other covered federal officials, as well as their spouses, are all subject to the new ethics rules. During their time in office, they would be prohibited from issuing or sponsoring digital assets for compensation.

Senator Cynthia Lummis, one of the bill’s strongest supporters, said the new language applies equally to everyone in government, including the president. In a post on X, she wrote, “History will remember this as the moment a president chose a higher standard of ethics than the law required of him.”

Crypto exchanges would also be barred from knowingly listing tokens issued in violation of the rules. The restrictions would remain in force until the end of Trump’s current presidential term in January 2029.

Senator Cynthia Lummis, one of the bill’s strongest supporters, said the new language applies equally to everyone in government, including the president. In a post on X, she wrote, “History will remember this as the moment a president chose a higher standard of ethics than the law required of him.”

History will remember this as the moment a president chose a higher standard of ethics than the law required of him. This agreement bans ALL federal officials — including the President — from issuing or sponsoring a digital asset for profit, with real enforcement and real… pic.twitter.com/zYlD0nRGjB

— Senator Cynthia Lummis (@SenLummis) July 22, 2026

Additionally, Coinbase CEO Brian Armstrong reiterated his support for the legislation, stating that the measure is prepared for a Senate floor vote and that the discussions have essentially concluded. Armstrong claimed that the absence of a clear federal framework continues to drive cryptocurrency companies abroad and put consumers at needless danger, calling it a bipartisan compromise formed by thousands of hours of labour.

The Clarity Act is ready for a full Senate floor vote.

The bill represents a true bipartisan compromise with thousands of hours of work on both sides, and it couldn’t come at a better time. The status quo in the U.S. isn’t working. There’s no federal framework, so bad actors… pic.twitter.com/8HQvp8iSrw

— Brian Armstrong (@brian_armstrong) July 22, 2026

CFTC Chairman Mike Selig echoed that message following the release of the revised Senate draft. After meeting Senator Ashley Moody, he posted on X that they discussed “the importance of regulatory CLARITY for crypto asset markets to ensure the new frontier of finance is built in the United States.”

After the updated Senate draft was made public, CFTC Chairman Mike Selig reiterated that statement. He said on X that he spoke with Senator Ashley Moody on “the importance of regulatory CLARITY for crypto asset markets to ensure the new frontier of finance is built in the United States.”

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

You need to login in order to Like