Two US senators from opposing parties have reportedly submitted revised ethics guidelines to the White House amid ongoing congressional negotiations over a cryptocurrency market structure bill that could reshape how digital assets are regulated in the United States.

According to a Thursday PunchBowl report, Republican Senator Thom Tillis and Democratic Senator Ruben Gallego delivered a counteroffer to the Trump administration proposing changes to the ethics provisions in the Digital Asset Market Clarity (CLARITY) Act. The revised language would address concerns raised by numerous lawmakers regarding the initial draft by empowering state authorities — rather than the US Attorney General — to enforce a ban on federal officials issuing or sponsoring digital tokens.

Gallego previously stated that provisions covering ethics, consumer protection, illicit finance, conflicts of interest, and market integrity "must be strengthened", pledging to continue working with Republicans to push the bill "over the finish line." Cointelegraph contacted both Gallego's and Tillis's offices for further clarification on the proposed changes but had not received a response at the time of publication.

The CLARITY Act, which aims to establish a comprehensive regulatory framework for digital assets in the United States, has been the subject of intense debate in Congress. The bill seeks to clarify the division of regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over cryptocurrency markets — a jurisdictional ambiguity that digital asset firms have cited for years as a barrier to operating with confidence in the US market. Under the bill's framework, digital assets deemed sufficiently decentralized would fall primarily under CFTC oversight, while tokens with issuer-backed investment contracts would remain under SEC jurisdiction.

The proposed ethics revisions could help secure backing from Senate Democrats, many of whom have publicly stated they will not support the CLARITY Act "if it protects [US President Donald] Trump's dominance over an industry that he will have more control to regulate." Ethics provisions in the bill have drawn particular scrutiny due to President Trump's family connections to cryptocurrency ventures, including World Liberty Financial and the USD1 stablecoin.

Republicans currently hold an effective 52-47 majority in the Senate, with Senator Mitch McConnell absent for medical reasons. The party will need Democratic support to reach the 60-vote threshold required to advance the legislation under Senate filibuster rules.

The CLARITY Act previously advanced with ethics amendments barring the president, vice president, their spouses, and other senior officials from issuing, endorsing, or sponsoring digital assets while in office. The outcome of the current ethics negotiations between Tillis, Gallego, and the White House will likely determine whether the bill can attract the bipartisan coalition needed for a floor vote.