WASHINGTON — Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis (R-Wyo.), alongside Sens. John Boozman (R-Ark.) and Tim Scott (R-S.C.), released final draft text of the Digital Asset Market Clarity Act on Monday, Sept. 14, 2026, including ethics language President Donald Trump agreed to ahead of a Tuesday procedural vote, according to a Lummis Senate press release and Cointelegraph.

The sponsors cast the 635-page draft as the product of more than a year of bipartisan talks and 126 substantive changes requested by Democrats. If cloture is invoked on the motion to proceed Tuesday afternoon — scheduled around 2:15 p.m. ET — the text would be offered as an amendment in the nature of a substitute, Lummis’s office said. The House passed a Clarity vehicle in July 2025; the Senate still needs 60 votes for cloture with Republicans holding 53 seats.

“After a year of intense daily bipartisan negotiations, this bill is ready,” Lummis said in the release. “President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in U.S. history.”

Per Cointelegraph’s read of the revised ethics title: state attorneys general could enforce bans on federal officials issuing, sponsoring, or holding significant financial interests in digital assets, and on exchanges listing assets in violation of those bans. Covered individuals would have to divest significant crypto-related interests or place them in a qualified blind trust. Civil penalties would be $500,000 or 20% of the amount received in a prohibited transaction, whichever is greater. Ethics rules would take effect about 360 days after enactment, or sooner if implementing regulations are finalized.

That package puts the power question in plain view: Congress is writing market rules for an industry in which the president and other covered officials have had — or may still have — financial stakes, then assigning enforcement partly to state attorneys general rather than keeping it solely inside federal agencies. Whether those tools bite after enactment is a separate fight from the Tuesday cloture math.

On stablecoins, Cointelegraph reported the Treasury secretary would get authority to restrict rewards if community banks are losing deposits on a substantial scale — a deposit-flight circuit breaker that would expire 18 months after the bill becomes law. Revised Blockchain Regulatory Certainty Act (BRCA) language would retain developer protections against money-transmitter treatment and extend civil safe-harbor coverage to miners and validators, Cointelegraph said.

Polymarket odds that Clarity passes this year sat around 35% Monday — the highest since late July, still comparatively low, Cointelegraph noted. Lummis framed a no vote as rejecting ethics reforms and ceding digital-asset leadership abroad; Democrats have not publicly embraced that framing as the price of yes.

Sources