The clarity law has just received a new draft before its closing vote on September 15.
This week, Senate Republicans dropped a updated draft of the Clarity Act, the main US bill on the structure of the crypto market.
The changes would limit how DeFi protocols and on-chain prediction markets are treated under federal law, although the section withholding Democratic votes was not touched at all just days before a critical September 15 closing vote.
🚨NEW: Senate Republicans released updated text on the Clarity Act reflecting changes negotiated during the August recess.
There appears to be no change to the ethics section. The BRCA and stablecoin yield sections also remain the same.
Changes here include:
📌Demanding… pic.twitter.com/cYIr2VsLG
– Eleanor Terrett (@EleanorTerrett) September 10, 2026
What’s the scoop?
- What has changed: The new text would require “non-decentralized DeFi” (protocols in which someone always holds administrative keys, pause switches, or actual control over the code) to register with the CFTC like any other market participant.
- In addition: The revised bill would be Also restricting DeFi exclusions to spot and cash transactions only (thus cutting off the argument that on-chain prediction markets could circumvent state gaming laws through the same exemption) and giving credit unions clearer authority over custody and trading of digital assets.
- Rising battle: The bill’s three main flashpoints (ethical language, developer protections, and stablecoin yield compromise) have all been left as is, which could prove thorny. Republicans hold about 53 seats in the Senate, meaning cloture needs about seven Democratic votes to reach 60. So far, no Democrats have publicly signed on.
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