Clarity Act, in the flesh, unveiled by U.S. Senate Banking Committee before hearing
CoinDesk
The U.S. Senate Banking Committee released the Clarity Act text ahead of a hearing to establish a regulatory framework for the cryptocurrency industry.Summary
The U.S. Senate Banking Committee has officially released the text of the Clarity Act, a market structure bill aimed at integrating the cryptocurrency industry into the regulated financial system. The legislation maintains protections for DeFi developers and addresses contentious rules regarding stablecoin yield, though it faces further hurdles, including a required conflict-of-interest provision and the need for bipartisan support in the full Senate. While industry stakeholders are reviewing the text, the bill must still navigate committee approval, a merger with the Senate Agriculture Committee's version, and potential amendments before reaching a final vote.
(Source：CoinDesk)