The Senate Banking Committee released updated text for the CLARITY Act on May 12 ahead of a scheduled May 14 markup. The draft sets rules for digital assets, stablecoins, and decentralized finance while leaving ethics provisions unresolved.
On May 12, the Senate Banking Committee made public the latest version of the CLARITY Act, a bill aimed at creating regulatory certainty for crypto markets. The text includes limits on passive yields for stablecoins, protections for non-custodial DeFi developers, and clearer authority for banks to handle digital assets and blockchain activities. It also addresses token classification as ancillary assets and customer protections in insolvency cases.
