Updated Crypto Clarity Act Drops Ahead of Senate Vote

Lawmakers are pushing forward with a fresh draft of the long awaited crypto Clarity Act. The updated bill introduces new rules for decentralized finance applications and clarifies how credit unions can handle digital assets. Under the revised terms, decentralized finance apps fail their decentralized status if someone can control their functionality, restrict their use, or if they do not run entirely on transparent encoded rules. Protocols that fail this test must register with the Commodity Futures Trading Commission.

The bill aims to divide oversight clearly between regulators, helping the market understand which digital assets count as securities, commodities, or stablecoins. Senate Republicans started circulating the updated text ahead of a scheduled floor vote on September 15. The legislation previously hit delays over disputes concerning stablecoin yields and ethics rules for government officials.

While the current draft has not secured bipartisan support, President Donald Trump continues to push for its passage to keep the United States competitive in the digital asset sector. Traders and industry leaders are watching the upcoming vote closely to see if the market structure bill can finally move forward.