Republicans Release Revised Clarity Act Ahead of Crucial Crypto Vote

Senate Republicans have released an updated version of the Clarity Act, a bill that aims to establish a federal digital-asset market framework and clarify regulatory responsibilities. The revised legislation targets 'decentralized-in-name-only' crypto trading protocols, requiring them to register with the Commodity Futures Trading Commission.

The new language is part of a 630-page update to the Clarity Act, which was unveiled by Sen. Cynthia Lummis (R., Wyo.) ahead of a September 15 procedural vote. The bill has undergone significant changes, with over 100 modifications requested by Democrats incorporated into the revised text.

Lummis emphasized that the updated bill addresses concerns raised by Native American groups regarding prediction markets and includes language limiting DeFi provisions to spot and cash transactions. She urged Democrats to support the bill, highlighting that it incorporates many of their requested changes.