Senate updates Clarity Act to bar presidents from issuing crypto assets: Reports

The Senate’s crypto market structure legislation has been amended to ban presidents and other federal officials from issuing or sponsoring crypto and other digital assets.

The revised Clarity Act, obtained by CNBC, introduces new ethics restrictions aimed at preventing senior government officials from profiting from crypto, marking the first such provisions to be added to federal digital asset legislation.

The bill remains the Senate’s primary effort to establish a comprehensive regulatory framework for digital assets.

This is a developing story.