Senate Republicans Release Updated CLARITY Act, Add CFTC Registration Requirement for Non-Decentralized DeFi Protocols Crypto journalist El…
Senate Republicans Release Updated CLARITY Act, Add CFTC Registration Requirement for Non-Decentralized DeFi Protocols
Crypto journalist Eleanor Terrett reported that Senate Republicans have released an updated version of the CLARITY Act reflecting changes negotiated during the August recess. The ethics, BRCA and stablecoin-yield provisions appear unchanged. Key revisions include requiring non-decentralized DeFi protocols to register with the CFTC, aligning with Section 10301 of the Senate Banking Committee’s version; limiting the DeFi provisions to spot or cash transactions in digital commodities, apparently aimed at addressing tribal concerns over blockchain-based prediction markets; and further clarifying credit unions’ authority to engage in crypto-related activities.