Senate Republicans Circulate Updated Crypto Bill Ahead of Tuesday Vote
Senate Republicans have circulated a revised 630-page Clarity Act ahead of a critical September 15 procedural vote, introducing specific federal definitions and CFTC registration requirements for certain DeFi protocols. The legislation faces a steep path to the 60-vote threshold, as it still lacks committed Democratic support despite claims of bipartisan compromise on issues ranging from ethics rules to stablecoin incentives.
According to GN markets/crypto (en-US), the updated Clarity Act introduces a new regulatory category for 'non-decentralized finance trading protocols,' requiring entities that control a protocol's operations to register with the CFTC. The report also highlights that while Senator Lummis claims the bill incorporates over 114 Democratic requests, no Senate Democrats have yet publicly pledged support for the revised text.
Source: GN markets/crypto (en-US)A new draft of the Clarity Act circulated Thursday includes over 100 changes to secure bipartisan support before the midterm elections.
Source: GN markets/crypto (en-US)
