Senate Republicans Post Revised CLARITY Act Text Five Days Before Cloture Vote

The Sept. 10 substitute adds CFTC registration and Bank Secrecy Act obligations for trading protocols that are not decentralized, limits the DeFi title to spot and cash digital commodity transactions, and clarifies what credit unions may do with digital assets. The seven Senate Democrats who have negotiated the bill for a year have not withdrawn the statement of opposition they issued in July.

Loading this article…