CLARITY Act Gains Momentum as Final Draft Released Ahead of Crucial Senate Vote
Senator Cynthia Lummis has released the final draft of the CLARITY Act, which includes over 120 changes requested by Democrats and tougher ethics restrictions for federally elected officials. The bill is set to undergo a crucial Senate vote on September 15, with the odds of passage increasing to 44% after President Trump agreed to stricter ethics rules.
The final draft of the CLARITY Act addresses concerns raised by Democrats, including stronger ethics rules and more consumer protections. It also includes provisions that would protect blockchain developers from having to register as money transmitters in some cases.
The bill's passage is seen as a crucial step in establishing clear regulations for the digital assets industry. Senator Lummis emphasized that rejecting the bill would mean turning down new ethics rules, risking US leadership in digital assets, and leaving Americans without stronger market protections.