Wu Shuo learned that documents on the official website of the U.S. Senate Banking Committee show that the latest substitute amendment draft of H.R.3633, the “Digital Asset Market Clarity Act” (CLARITY Act), has been released (309 pages in total). The draft proposes to establish a regulatory framework for the issuance and sale of digital commodities involving the SEC and CFTC, and to restrict central bank digital currency use for monetary policy. The draft also covers provisions including the boundary between DeFi and CeFi, anti-illegal financial measures, restrictions on payment stablecoin yield, security tokenization, protections for software developers, bankruptcy protection for customer assets, and provisions such as the CFTC-SEC innovation sandbox.