New Clarity Act Draft Would Bar Trump and Officials From Issuing Crypto, With a 2029 Sunset

Bitcoin Magazine New Clarity Act Draft Would Bar Trump and Officials From Issuing Crypto, With a 2029 Sunset Senate Republicans released an updated version of the Clarity Act on Wednesday, a draft that for the first time carries a crypto ethics agreement barring the president, vice president, members of Congress, federal judges, and other covered officials from issuing or sponsoring digital assets. The new Clarity Act text, posted after morning briefing calls with stakeholders, adds a section titled “Ban on certain digital asset transactions.” It states that a covered individual “shall not, in exchange for consideration,” issue or sponsor a digital asset, a prohibition that reaches public officials and employees during their service, and their spouses.

A companion clause bars the listing of any digital asset found to be issued or sponsored by a covered individual in violation of the ban. The bill offers a safe harbor. A covered individual would avoid violation by placing a direct interest in a digital asset in a qualified blind trust, divesting it, or both, along procedures that track the ethics-agreement rules under section 208 of title 18.

A separate carve-out protects continued use of a covered individual’s name, image, or likeness when an issuer or intermediary used it before the person entered covered status. JUST IN: Senate Republicans release updated Clarity Act text that bans the President and covered officials from issuing digital assets and requires them to sell their crypto holdings or put them in a blind trust. pic.

twitter.com/v7UDXGI45B— Bitcoin Magazine (@BitcoinMagazine) July 22, 2026 The ethics package carries an expiration date. Under the draft, the provisions have no force after noon on January 20, 2029, and no person faces penalty after that sunset for conduct on or before it.

The timing lines up with the end of the current presidential term. Clarity Act dispute over President Trump’s crypto efforts The ethics language answers a months-long Clarit