Senate Republicans Unveil Revised Clarity Act Targeting Controlled Crypto Trading Platforms
Revised Clarity Act introduced
Senate Republicans released an updated 630‑page Clarity Act on Thursday. The draft focuses on crypto trading platforms that are controlled by people or groups, not on fully decentralized ones.
Key provisions
- Non‑decentralized protocols must register with the Commodity Futures Trading Commission (CFTC).
- DeFi (decentralized finance) protocols that only appear decentralized will be limited to spot and cash transactions.
- The bill adds over 100 changes requested by Democrats, including a $150 million budget for the CFTC and a felony bar on fraudsters.
- Ethics rules prohibit public officials, employees and their spouses from issuing or sponsoring digital assets.
Senator Lummis’ statement
Sen. Cynthia Lummis (R‑Wyoming) posted on X that the new text reflects bipartisan work and incorporates Democratic changes. She urged Democrats to vote for the bill, saying it includes their requested safeguards.
Democratic response
According to Politico, no Democrats support the revised bill. They have asked for broader restrictions, especially concerning President Trump’s crypto interests.
What is confirmed
- The revised Clarity Act was released on Thursday, 2026‑09‑12.
- It requires registration of non‑decentralized crypto protocols with the CFTC.
- A procedural Senate vote is set for September 15.
- The bill contains over 100 Democratic‑requested changes.
Uncertainties
- It is unclear whether Democrats will ultimately support the legislation.
- The outcome of the September 15 procedural vote is not known.
Implications for the crypto market
If passed, the act would create a federal framework for digital‑asset markets, define the roles of the CFTC and the SEC, and could allow crypto startups to raise funds through token sales again.
Next steps
The Senate will hold a procedural vote on September 15. Passage of the vote would move the Clarity Act toward final approval.
