Senate Republicans have released updated text for the CLARITY Act. The changes came during the August recess, before a cloture vote scheduled for September 15. Former Fox Business journalist
Senate Republicans have released updated text for the CLARITY Act. The changes came during the August recess, before a cloture vote scheduled for September 15. Former Fox Business journalist Eleanor Terrett reported the updated text.
The revisions address three specific areas of the bill. The ethics section remains unchanged, as do the BRCA and stablecoin yield provisions. Republicans focus their updates on decentralized finance registration, the scope of DeFi activity covered by the bill, and the role of credit unions.
NEW: Senate Republicans have released updated Clarity Act text reflecting changes negotiated over the August recess.
There appear to be no changes to the ethics section. BRCA and stablecoin yield sections also remain the same.
The changes here include:
Requiring… pic.twitter.com/cYIlr2VsLG
— Eleanor Terrett (@EleanorTerrett) September 10, 2026
The updated text requires non-decentralized DeFi protocols to register with the Commodity Futures Trading Commission. This change mirrors Section 10301 of the Banking Committee portion of the bill. It signals a move to bring semi-centralized DeFi operations into a formal regulatory structure rather than leaving their status ambiguous.
The distinction between decentralized and non-decentralized protocols is important. Fully decentralized protocols do not face this requirement. Non-decentralized ones do.
The second change limits DeFi provisions to spot or cash digital commodity transactions. This revision targets a concern raised by tribal gaming groups about blockchain-based prediction markets.
Tribal organizations had argued that the CLARITY Act could allow prediction market platforms to operate like state-regulated casinos without following the same rules. The Indian Gaming Association took an active position against the bill on those grounds. The updated text limits DeFi coverage to spot and cash transactions.
The third change clarifies credit unions’ authority to deal in cryptocurrency. Credit unions had sought statutory clarity before engaging with digital assets. The updated text provides that clarity directly.
The September 15 cloture vote requires 60 votes to advance the bill. All 53 Senate Republicans are expected to vote yes. Seven Democratic votes remain necessary.
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The updated text does not change the ethics provisions. That section was the central sticking point for several Senate Democrats, including Senators Alsobrooks, Gallego, and Warner, who said the bill falls short on ethics and consumer protections.
Treasury Secretary Scott Bessent has urged the Senate to agree to a motion to proceed. He warned that failure to act “would send a troubling signal to our allies and adversaries alike that America is unwilling to lead on the future of digital assets.”
House Financial Services Chairman French Hill said lawmakers have made major progress and believes the votes could be there. The September 15 vote will confirm whether that confidence holds.
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