The bill now carries self-imposed conflict-of-interest restrictions on the president and vice president, enforced partly by state attorneys general, one day before a cloture vote.
Senators Lummis, Boozman and Scott released what their offices describe as the final text of the Digital Asset Market Clarity Act on Monday, incorporating more than 120 substantive changes requested by Democrats. The release came one day before a scheduled cloture vote and resolves the issue that had been blocking the bill.
The concession
The final text reflects substantially all of the Tillis-Gallego ethics compromise. President Trump voluntarily agreed to ethics restrictions applying to himself, the vice president, judges, and federally elected officials and their spouses, explicitly excluding other family members such as children. The package includes a meaningful enforcement role for state attorneys general over the conflict-of-interest rules, which is the provision with real teeth, since it does not depend on federal enforcement discretion.
Senator Lummis characterized the package as among the toughest ethics restrictions in U.S. history. That is her office's characterization rather than a verified comparative claim, but the concession itself is the substantive development, because the ethics question is what had kept Democratic votes out of reach.
What else is in the text
The Treasury Secretary gains authority to impose an emergency brake, reported as up to 18 months, on stablecoin-related rewards, aimed at preventing deposit flight from community banks. That is a direct response to the most concrete lobbying objection from the banking sector, and it gives Treasury a lever that did not previously exist.
The text also narrows money-transmission registration requirements for software developers, through an edit to the Blockchain Regulatory Certainty Act. That is the provision the developer community has pushed hardest for, and it addresses the exposure question that has shaped where protocol teams incorporate.
The arithmetic
Tuesday's cloture vote requires 60 votes. Republicans hold 53 seats, which means at least seven Democratic votes are needed to proceed. The ethics package exists because of that arithmetic.
Prediction markets responded. Polymarket's contract on CLARITY Act passage in 2026 moved from roughly 22% to roughly 32% following the text release. That is a substantial proportional move and it is still a long way from an expectation of passage. A third is not a majority, and cloture is only the first gate.
Tuesday
The vote is the whole story. Clearing cloture would put the bill on a path to a floor vote and would be the furthest comprehensive digital-asset market-structure legislation has advanced. Failing it returns the question to the same place it has been for two years.