The U.S. Senate is getting ready for what could be its final push to pass the Digital Asset Market Clarity Act, a major crypto regulation bill that the digital asset industry has been waiting for.
A new draft of the bill is now being shared among lawmakers and industry groups. One of the biggest changes is a new ethics rule that would stop the U.S. president and other top government officials from having direct financial ties to cryptocurrencies. According to the current draft, this restriction would remain in place until 2029, while the Department of Justice (DOJ) would be responsible for investigating any related ethics complaints.
The updated version of the bill comes after discussions between Senate Republicans and President Donald Trump. The ethics section had been one of the most debated parts of the legislation.
Although the crypto industry has already reviewed parts of the latest draft, many Democratic senators had not yet seen the full document. This could become a challenge because the bill needs support from at least 10 Democratic senators to reach the required 60 votes in the Senate before it can move forward.
The legislation combines work from both the Senate Banking Committee and the Agriculture Committee. It also includes several new measures designed to improve consumer protection and make digital asset markets safer for investors.
Senate Majority Leader John Thune plans to bring the bill to the Senate floor for a vote in the coming days before lawmakers begin their summer recess.
The crypto industry has welcomed the latest progress. Digital Chamber CEO Cody Carbone said the new draft is an important step toward a Senate vote and expressed confidence that lawmakers can continue working together until the bill reaches the president for final approval.
If passed, the Digital Asset Market Clarity Act could become one of the most important crypto regulations in the United States, providing clearer rules for the digital asset industry while increasing protections for investors.
