Sen. Cynthia Lummis released revised CLARITY Act text requiring "decentralized-in-name-only" DeFi protocols to register with the CFTC, while limiting DeFi provisions to spot/cash digital-commodity transactions. Republicans still need at least 7 crossover votes to reach the 60-vote threshold.
Matters because: Passage or failure could reshape how U.S. DeFi platforms operate and register going forward.