The Senate's latest compromise draft of the Digital Asset Market Clarity (CLARITY) Act attempts to bridge disputes that have stalled comprehensive U.S. digital asset legislation, according to a new analysis by Ashurst Perkins Coie.
The revised text pairs expanded regulatory certainty for the cryptocurrency industry with stronger consumer protection, anti-money laundering and ethics provisions.
Released July 22, the draft merges previously separate Senate Banking Committee and Agriculture Committee proposals into a single framework governing securities regulation, commodities markets, banking, stablecoins and decentralized finance (DeFi).
