Final Text of Digital Asset Market Clarity Act Released with Updated Ethics Terms

Senators Cynthia Lummis, John Boozman, and Tim Scott unveiled the final text of the Digital Asset Market Clarity Act, just one day before the Senate is scheduled to vote on the bill. The updated legislation introduces several notable changes, including the removal of the January 20, 2029 sunset clause and the reversal of previous restrictions on state attorney general enforcement. Additionally, the bill raises civil penalties from 10% of the proceeds or $500,000 (whichever is less) to 20% or $500,000 (whichever is greater). The act also imposes bans on issuing and sponsoring digital assets, aiming to clarify regulatory expectations for digital asset markets.