Senate Revises Clarity Act Ahead of Cryptocurrency Regulation Vote

The US Senate has released a revised version of the CLARITY Act ahead of its scheduled vote on September 15. The revised bill adds registration requirements for trading protocols under Commodity Futures Trading Commission (CFTC) oversight.

The change targets controlled or non-decentralized trading protocols, which will be subject to CFTC regulation and a new registration framework.

The revised text also directs the CFTC and Treasury to write rules for covered trading protocols. The Senate's cloture motion on H.R. 3633 is scheduled to ripen at 2:15 p.m. on September 15, limiting further debate on the bill.