Senate Republicans released a 635-page final draft of the Digital Asset Market Clarity Act that they said includes 126 changes requested by Democrats.

President Donald Trump agreed to expanded ethics restrictions covering federal officials, judges and their spouses.

Cloture on the motion to proceed is scheduled for Tuesday at 2:15 p.m. ET and requires 60 votes.

The draft gives the Treasury secretary circuit-breaker authority if payment stablecoins drive deposit flight from community banks.

Senate Republicans late Sunday released what they described as the final draft of the Digital Asset Market Clarity Act, a 635-page substitute intended to break a yearlong stalemate ahead of Tuesday’s first floor test.

Sens. Cynthia Lummis, John Boozman and Tim Scott said the text reflects more than a year of talks and incorporates 126 substantive changes sought by Democrats. If cloture is invoked on the motion to proceed, the draft would be offered as an amendment in the nature of a substitute to H.R. 3633.

“After a year of intense daily bipartisan negotiations, this bill is ready,” Lummis said. “President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in U.S. history.”

The ethics title, which sponsors said tracks substantially all of the Tillis-Gallego proposal, would give state attorneys general a role in enforcing bans on officials issuing, sponsoring or holding significant financial interests in digital assets. Covered individuals would have to divest those interests or place them in a qualified blind trust, according to the revised text summarized by Cointelegraph. Civil penalties would be the greater of $500,000 or 20% of the amount received in a prohibited transaction, with the rules taking effect 360 days after enactment or sooner if implementing regulations are finalized.

The draft also grants the Treasury secretary new authority to restrict stablecoin rewards if payment stablecoins trigger deposit flight from community banks, a circuit-breaker sponsors said is designed to protect rural lenders, farmers and small businesses. That authority would expire 18 months after enactment, per the Senate release.

Edits to the Blockchain Regulatory Certainty Act would shield software developers from money-transmission registration and create a civil safe harbor, while extending certain Bank Secrecy Act protections to miners and validators. Agriculture Committee provisions add guardrails on affiliate trading and conflicts of interest at digital commodity intermediaries and clarify how state consumer-protection laws apply, without changing existing CFTC derivatives authority, according to the sponsors’ fact sheet.

The procedural vote is set for 2:15 p.m. ET on Tuesday, Sept. 15. Cloture requires 60 votes. Republicans hold 53 seats, so the motion still needs several Democratic or independent votes to open debate. Sponsors framed the package as their last, best offer; whether the rewritten ethics title is enough remains the central question for markets watching U.S. market-structure legislation.