Revised CLARITY Act Aims to Regulate Non-Decentralized DeFi Protocols
- The revised CLARITY Act mandates U.S. regulators to assess compliance for operators of “non-decentralized finance trading protocols” with securities and AML laws.
- Protocols are defined as non-decentralized if their rules can be altered by individuals or groups, or if user access can be restricted.
- The SEC and CFTC will create rules covering registration, conduct, and supervision for these protocols.
- A Senate vote on the bill is scheduled for September 15, requiring a supermajority of at least 60 votes to pass.
- Despite ongoing negotiations over ethics provisions, the core text has seen little change since its previous version.
The CLARITY Act aims to provide a regulatory framework that balances consumer protection with business standards in the cryptocurrency sector. The outcome of the upcoming Senate vote could significantly influence how DeFi operates in the U.S.
With a procedural vote set for September, stakeholders are closely watching developments as key issues remain unresolved. The legislation’s advancement could reshape compliance expectations for non-decentralized platforms.(Source)
