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…

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