Senate GOP revises CLARITY Act ahead of September 15 vote
Regulation & Gov ·
Republicans released an updated draft of the Digital Asset Market CLARITY Act that narrows DeFi oversight and preserves several contested provisions unchanged.
The new text would require DeFi protocols that are not sufficiently decentralized to register with the CFTC, while confining DeFi-specific rules to spot crypto trading rather than broader market activity, according to cryptopotato.com. The draft also clarifies the scope of credit unions' authority to engage with crypto assets, an area that had been ambiguous in earlier versions of the bill.
Sections addressing ethics requirements, the Bank Regulatory Capital Act (BRCA), and stablecoin-yield treatment were left untouched in this revision, meaning those parts of the framework remain as previously drafted. The bill is being positioned for a procedural vote in the Senate on September 15, part of a broader effort to establish a regulatory boundary between the SEC and CFTC over digital-commodity oversight, a distinction reported by wublockchain.xyz.
The updated draft reportedly incorporates more than 100 amendments proposed by Democrats, alongside the new DeFi registration and credit-union language, according to coverage tracked in the same cluster. Separate reporting has also framed the changes as tightening the DeFi registration requirement specifically, without altering the underlying structure of the bill, a characterization noted by x.com.
Eight distinct sources are tracking developments around this draft, pointing to sustained attention on how the bill treats decentralization criteria and exchange oversight ahead of the floor vote. Whether the amendments satisfy enough Democratic senators to advance the bill past the procedural vote remains unresolved, as does the ultimate treatment of the unchanged ethics, BRCA, and stablecoin-yield sections once floor debate begins.