Odaily reported that U.S. Senator Cynthia Lummis posted on X that the CLARITY Act would allocate $150 million to support law enforcement agencies in tracking scammers and other bad actors in the digital asset sector. The funding is aimed at strengthening enforcement against cryptocurrency-related criminal activity.
Updated draft adds insider trading provision
According to earlier information, the U.S. Senate Banking Committee released the first full updated draft of the CLARITY Act since January this year. The revised draft adds Section 109, an insider trading provision, and makes adjustments across several parts of the text.
The changes cover definitions, the authority of the SEC, the regulatory boundary between DeFi and CeFi, and frameworks related to bankruptcy and insolvency. These revisions keep the focus of the draft on digital asset regulation, enforcement support, and the legal structure surrounding cryptocurrency activities.