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Senate panel advances Clarity Act after DeFi wording change

2026-05-21 16:57:08

The Senate Banking Committee advanced the Digital Asset Market Clarity Act by a 15-9 vote after last-minute changes won two Democratic votes and raised concern over DeFi oversight. The revised text removed earlier protections for non-controlling blockchain developers and could let regulators treat some protocol participants as securities intermediaries if they are seen as acting together to control a protocol. The bill next heads toward a merger with the Senate Agriculture Committee version before a full Senate vote.

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