TREE NEWS update: US Senate Republicans have released an updated version of the CLARITY Act following negotiations during the August recess. The revised text would require non-decentralized DeFi protocols to register with the Commodity Futures Trading Commission, limit DeFi provisions to spot or cash digital commodity transactions, and clarify credit unions’ authority to conduct crypto business. The ethics, BRCA and stablecoin yield sections are unchanged.
US Senate Republicans Release Updated CLARITY Act Text After August Recess
AI take
The registration requirement for non-decentralized DeFi protocols is the substantive shift here, drawing a regulatory line based on how decentralized a protocol actually is — a distinction that has resisted easy definition and now lands in the CFTC's lap. Narrowing DeFi provisions to spot or cash digital commodity transactions suggests negotiators are trying to keep derivatives activity out of the lighter-touch regime. The unchanged ethics, BRCA and stablecoin yield sections indicate those fights are settled or parked, not resolved. Whether the decentralization test holds up under industry and agency scrutiny is the open question.
Generated by AI for reference only.
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