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Wu said that according to the official documents on the U.S. Senate Banking Committee website, the latest substitute amendment draft of H.R.3633 "Digital Asset Market Clarity Act" (CLARITY Act) has been released (a total of 309 pages), proposing to establish a regulatory framework for digital asset issuance and sales involving the SEC and CFTC, and to restrict the use of central bank digital currencies for monetary policy.
The draft covers provisions such as the boundaries between DeFi and CeFi, anti-illegal finance measures, restrictions on the yields of payment stablecoins, security tokenization, protection for software developers, bankruptcy protection for customer assets, and an CFTC-SEC innovation sandbox.