Senator Lummis Adds 100 Democrat Changes to New Clarity Act

Senator Cynthia Lummis has introduced a fresh version of the Clarity Act, featuring over 100 changes requested by Democrats. This move is part of an effort to gain bipartisan support for the crypto bill. The updated text is now 630 pages long and includes several key shifts intended to address concerns from across the political spectrum.

A major part of the update focuses on decentralized finance. The bill now provides a clear safe harbor for validators, node operators, and wallet software developers. These groups are protected from certain commodity regulations. The new draft also clarifies how the CFTC will handle protocols that are not truly decentralized, while ensuring that the underlying code itself does not need to register.

The Senate is preparing for a procedural vote to decide if the bill will move forward. While the new version addresses many technical points, some political friction remains. Democrats have pushed for stricter ethics rules regarding crypto holdings, and some banking groups are still worried about how stablecoins might affect traditional deposits. This vote will be a major test for the future of crypto law in the United States.