President Donald Trump has agreed to about 80% of a stricter ethics package tied to the Clarity Act, clearing a path for Tuesday's Senate cloture vote. The concessions would force officials, their spouses and federal judges to divest crypto holdings or place them in blind trusts, while state attorneys general gain power to sue exchanges over prohibited assets. Banks are still lobbying against the bill's stablecoin provisions as the vote nears.
Trump concedes on ethics to save the vote
Trump agreed to roughly 80% of a stricter ethics proposal tied to the Clarity Act, the Associated Press reported Monday, citing three senior Republicans. The concession comes ahead of a Senate cloture vote scheduled for Tuesday, September 15.
Several Democrats and Republican Senator Thom Tillis of North Carolina had withheld their votes, demanding tougher conflict-of-interest rules around Trump's personal crypto holdings before agreeing to the tally needed to advance the bill. Under the new agreement, state attorneys general will be able to enforce the law alongside the Justice Department and can sue exchanges that list digital assets barred under the bill.
Elected officials, their spouses and federal judges will also be required to divest, or place in a blind trust, any significant financial interest in a crypto-issuing entity. The original bill had only barred federally elected officials and their spouses from issuing digital assets, which critics said fell short of addressing Trump's own crypto wealth. According to X: "After more than a year's worth of negotiations, it's time to pass this bipartisan bill", White House crypto adviser Patrick Witt said Sunday night.
What the bill decides and who is fighting it
The Clarity Act, formally H.R. 3633, sets out to decide which crypto assets fall under SEC jurisdiction and which belong to the CFTC. The Senate's final draft runs 635 pages and folds in 126 amendments requested by Democratic lawmakers, several of them aimed at the ethics rules around officials' digital-asset holdings.
Banks, however, are opposing a separate provision that would allow interest-like rewards on stablecoins. The Independent Community Bankers of America has projected losses exceeding $1 trillion in community bank deposits if consumers shift money into yield-bearing stablecoins instead. Separately, advocacy groups coordinated nearly 50,000 constituent contacts to Congress in August 2026 in support of the legislation.
XRP trades higher ahead of the vote
Prediction market odds for the bill's passage have risen to 44% following the release of the final draft. XRP is trading higher alongside Ethereum, Solana and Dogecoin as the Senate vote approaches.
If the bill clears the 60-vote threshold, it moves to a full floor debate where the stablecoin provisions could still be modified, stripped or strengthened.
Sources: CoinDesk, Crypto Briefing, Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
