Senate Unveils Revised CLARITY Act Amid Regulatory Clarity Push

The U.S. Senate has released a revised version of the Digital Asset Market Clarity Act (CLARITY Act), which aims to clarify regulatory boundaries between the SEC and CFTC for the U.S. crypto market.

The new text, released on September 10, incorporates over 100 amendments from Democratic lawmakers and includes provisions for digital commodity exchanges, brokers, and dealers to register with the CFTC.

The bill would require these entities to segregate customer assets, manage conflicts of interest, maintain trading records, and provide bankruptcy protections.

Non-decentralized DeFi protocols would also be subject to CFTC registration under the new version, which assigns digital commodity spot business to the CFTC and requires joint rule-making with the SEC and Treasury.