Updated CLARITY Act text from Senate Republicans would require non-decentralized DeFi protocols to register with CFTC

U.S. Senate Republicans have released an updated version of the CLARITY Act following negotiations during the August recess, according to a Fox Business crypto reporter on X. The post said the bill’s ethics section appears unchanged, while the BRCA and stablecoin yield provisions also remain intact. The revised text adds several points that could affect how parts of the digital asset sector are regulated. One update would require non-decentralized DeFi protocols to register with the U.S. Commodity Futures Trading Commission, or CFTC. Another would limit the bill’s DeFi provisions to spot or cash digital commodity transactions, a change the reporter said appears aimed at addressing tribal concerns around blockchain-based prediction markets. The updated text also clarifies the authority of credit unions to conduct cryptocurrency business. The report did not provide additional bill language beyond those changes.