CLARITY Act Faces Senate Vote with Over 100 New Amendments
- The CLARITY Act has been updated with more than 100 changes requested by Democrats.
- Polymarket bettors increased the odds of the CLARITY Act passing from 16% to 19% on September 10.
- The bill requires a minimum of seven Democratic votes to reach the necessary threshold of 60 votes in the Senate.
- Key amendments include requiring non-decentralized DeFi protocols to register with the CFTC and limiting DeFi provisions to spot and cash transactions.
Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis emphasized bipartisan efforts in updating the CLARITY Act, which now includes significant amendments addressing concerns from various groups, including Native American tribes over prediction markets. The bill’s advancement depends on securing enough Democratic support in the upcoming vote.
With over a hundred amendments incorporated, the CLARITY Act aims to clarify regulatory requirements for digital assets but faces a critical vote needing bipartisan backing in the Senate. (Source)
