Senate Republicans Unveil Revised Text of the Clarity Act
AI Market Summary
Senate Republicans released updated Clarity Act text, keeping ethics and stablecoin yield provisions intact while tightening oversight on non-decentralized DeFi protocols via CFTC registration and narrowing DeFi scope to spot/cash digital commodity activity. The revisions also clarify credit unions' authority to handle crypto assets. The changes matter as they refine the regulatory perimeter for DeFi and market structure, shaping compliance expectations and sector risk premia.
Impact level
● Medium
Affected assets
BTC/USDT-1.73%
AI Insight · BTC/USDTAI Insight
● Neutral
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Huoxing Finance reports that Eleanor Terrett, host of Crypto In America, said in a post on X that Senate Republicans have published an updated version of the Clarity Act incorporating revisions negotiated during the August recess. Terrett said the bill's ethics provisions are unchanged, and the BRCA and stablecoin yield-related language also remains intact. The revision would require non-decentralized DeFi protocols to register with the CFTC, aligning with Section 10301 of the Senate Banking Committee's bill. It also narrows the DeFi provisions to spot or cash transactions in digital commodities, a change that appears aimed at addressing tribal concerns tied to blockchain-based prediction markets. The update further clarifies the authority of credit unions to custody and manage crypto assets.
