🚨US CLARITY Act Adds New Rules for Non-DeFi Protocols Ahead of Sept. 15 Procedural Vote $GAIB
Senate Republicans released a revised 630-page CLARITY Act draft on Thursday, ahead of a Senate cloture vote Tuesday, Sept. 15 (2:15pm ET) that needs 60 votes to advance. Key points:
New rule: "Non-decentralized" DeFi protocols — platforms claiming to be decentralized but still controlled by a person or central group — must register with the CFTC and comply with BSA anti-money-laundering rules. DeFi provisions are now narrowed to spot/cash digital-commodity transactions only.
114+ Democrat-requested changes were added, but Democrats remain opposed mainly over unresolved ethics provisions (tied to concerns about Trump's crypto holdings).
Stakes: It's a procedural motion-to-proceed vote, not final passage. Failing means the bill is likely dead until 2029; Republicans need ~10 Democratic crossovers (hold 53 seats, facing possible GOP defections from Paul, Hawley, possibly Tillis).
Senate Republicans released a revised 630-page CLARITY Act draft on Thursday, ahead of a Senate cloture vote Tuesday, Sept. 15 (2:15pm ET) that needs 60 votes to advance. Key points:
New rule: "Non-decentralized" DeFi protocols — platforms claiming to be decentralized but still controlled by a person or central group — must register with the CFTC and comply with BSA anti-money-laundering rules. DeFi provisions are now narrowed to spot/cash digital-commodity transactions only.
114+ Democrat-requested changes were added, but Democrats remain opposed mainly over unresolved ethics provisions (tied to concerns about Trump's crypto holdings).
Stakes: It's a procedural motion-to-proceed vote, not final passage. Failing means the bill is likely dead until 2029; Republicans need ~10 Democratic crossovers (hold 53 seats, facing possible GOP defections from Paul, Hawley, possibly Tillis).
