#SummerCreationCamp

Final Provisions of the Clarity Act: Key Clauses for Trump and DeFi Have Been Clarified

The final draft of the historic Clarity Act that will regulate the cryptocurrency market in the U.S. has emerged, including provisions that grant exemptions to DeFi developers and impose temporary ethics restrictions on senior officials.

As the U.S. Senate nears the finish line on the market structure bill that the crypto industry has long been waiting for, it shared the latest working draft prepared for the Digital Asset Market Clarity Act (Clarity Act). This comprehensive text, consisting of hundreds of pages, aims to both ensure investor safety and fill legal gaps in the sector.

One of the most critical points of the draft was the preservation of the section of the Blockchain Regulatory Determination Act that directly concerns the decentralized finance (DeFi) ecosystem. Under this provision, developers who do not directly control users’ assets will not be classified as “money transmitters,” which would impose heavy financial obligations. The text also includes new technical regulations related to federal law supremacy, temporary registration procedures, and commodity pool operators.

Exemptions for DeFi Developers and New Registration Procedures
Meanwhile, on the political stage, the focus of debate is the relationship between Donald Trump and other senior government officials and crypto assets. Although the draft contains ethics rules that would limit direct crypto ties for the president and senior bureaucrats, these restrictions are planned to be a temporary measure until 2029. Oversight of potential ethics violations and complaints will be carried out directly by the Department of Justice (DOJ).

Temporary Ethics Rules for Trump and the Critical 16 Days
After Democratic senators cited Trump’s financial disclosures indicating he earned more than $1 billion from crypto investments over the past year, they point to these figures as evidence supporting claims of conflicts of interest in the White House. Senate Majority Leader John Thune is aiming to put the bill to a vote during the 16-day tight timetable ahead of the congressional summer recess. For the bill to become law, it must reach the 60-vote threshold with support from at least 10 Democrats. Sector representatives describe this move as the most concrete step taken to get the bill on the president’s desk.