CLARITY Act Gains Momentum Ahead of Senate Vote as Bernstein Predicts Passage

The CLARITY Act has gained momentum ahead of its Senate vote on September 15. Analysts at Bernstein are bullish on the bill, predicting that it will pass with Democratic support.

According to Bernstein, the revised CLARITY Act incorporates many of the Democrats' requested changes, including provisions for state attorneys general to enforce ethics rules and restrictions on crypto wash or blind trusts.

The updated text also includes protections for non-controlling blockchain developers and providers, exempting them from certain registration requirements. However, some have raised concerns that the deletion of a certification clause in Section 1960 may leave developers vulnerable to increased legal uncertainty.