CFTC Registration Mandate Added to Updated CLARITY Act

Senate Republicans have updated the CLARITY Act to require non-decentralized DeFi protocols to register with the Commodity Futures Trading Commission (CFTC).

This move is a significant step towards formalizing the regulatory framework surrounding DeFi protocols and highlights a growing focus on oversight in the cryptocurrency space.

The revised act maintains existing provisions on ethics, BRCA, and stablecoin-yield, while limiting DeFi provisions to spot or cash transactions in digital commodities.