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On the eve of the U.S. "Clear Act" review, Democratic lawmakers propose over a hundred "anti-DeFi amendments"
Deep Tide TechFlow News, May 13 — Ahead of the U.S. Senate Banking Committee’s review of the “Clarity Act” tomorrow, committee members submitted more than 100 amendments last night, according to reporter Eleanor Terrett (@EleanorTerrett). The DeFi advocacy organization @fund_defi characterized some of these amendments as “anti-DeFi amendments,” saying they would harm DeFi technology, users, and developers, and urged supporters to urgently lobby senators to oppose them.
It is reported that the aforementioned amendments were jointly proposed by Democratic Senators Cortez Masto, Andy Kim, Chris Van Hollen, Warren, and Jack Reed. They are aimed at the bill’s core DeFi protection provisions, including the Blockchain Regulatory Certainty Act (BRCA), protections for non-controlling software developers, DeFi frontend protections, tokenization clauses, and proposals to expand BSA/AML compliance obligations for developers and digital asset firms.