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- US Senate Republicans have unveiled an amendment to the Clarity Act, a cryptocurrency market structure bill.
- The amendment leaves unchanged the bill’s ethics provisions, the Blockchain Regulatory Certainty Act (BRCA) and provisions related to stablecoin yield.
- The revision includes a requirement for non-decentralized DeFi protocols to register with the CFTC and clarifies credit unions’ authority to handle digital assets.
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US Senate Republicans have unveiled an amendment to the Clarity Act, a cryptocurrency market structure bill, reflecting discussions held during the August recess.
Crypto in America host Eleanor Terrett reported on September 10 that, based on the portions of the amendment reviewed so far, the bill’s ethics provisions remain unchanged. Provisions covering the Blockchain Regulatory Certainty Act, or BRCA, which was incorporated into the Clarity Act, and stablecoin yield also were unchanged.
The amendment would require DeFi protocols that are not decentralized to register with the Commodity Futures Trading Commission. It limits the scope of the DeFi provisions to spot or cash-based digital commodity transactions.
The proposal also includes language clarifying credit unions’ authority to handle digital assets.
Source: en.bloomingbit.io