Clarity Act Revised to Regulate Non-Decentralized Crypto Trading Protocols

The U.S. cryptocurrency bill, Clarity Act, has been revised ahead of its first procedural vote on September 15.

Senate Republicans have released a 630-page text that includes new provisions for non-decentralized crypto trading protocols.

The bill stipulates that these protocols must register with the Commodity Futures Trading Commission (CFTC), which will also draft detailed rules for the sector.

This change was requested by Democratic senators, and Senator Cynthia Lummis argued that it is a bipartisan effort, noting that more than 114 provisions were added to the text in line with their requests.