JUST IN: 🇺🇸 US Senate Banking Committee releases crypto Clarity Act draft bill.

"The new draft is exactly 309 pages, longer than the 278-page draft that the Senate Banking originally released back in January.

The main points remain the same, with the SEC overseeing many crypto token sales & the CFTC overseeing most of the trading that happens after those tokens are already on the market.

The draft also adds more investor-protection language, including SEC antifraud and insider-trading authority for certain crypto offerings.

The stablecoin section is aimed at stopping platforms from offering bank-style yield just for keeping payment stablecoins in an account.

At the same time, the bill still leaves room for rewards tied to real crypto activity, like transactions, liquidity, staking, governance or loyalty programs.

The tokenization section was narrowed too, moving away from broad "real-world assets" wording and focusing more directly on tokenized securities.

One odd addition is that the draft now includes the 'Build Now Act,' for housing that has nothing to do with crypto but could matter for getting votes."

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