Senate crypto bill would ban federal officials from issuing digital assets - report

An updated version of the Clarity Act, under consideration in the Senate, would prohibit federal officials, including the president, from issuing digital assets, according to a media report on Wednesday.

CNBC said it obtained the bill's text, which now includes limits on how presidents may profit from crypto. Under the proposed legislation, the Department of Justice would be responsible for enforcement. It would be able to fine violators up to $250,000 per day.

President Donald Trump, who made ~$1.2B in crypto-related income in 2025, signed off on the ethics section of the bill, CNBC said, citing Sen. Bernie Moreno (R-OH).

It isn't clear if the bill would get enough support from Democrats to reach the 60 votes needed to pass the bill, the article said.  Democrats had criticized proposals that would rely on the DOJ for enforcement. Sen. Angela Alsobrooks (D-MD) has suggested state attorneys general would be better suited to enforce the legislation, the report said.

Senate Majority Leader John Thune (R-SD) expects the Senate to consider the measure soon. "It’ll get a vote, not sure when yet, but in the next couple weeks," he told reporters, according to CNBC.

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