WASHINGTON, Sept. 10 -- Sen. Cynthia Lummis issued the following press release:
U.S. Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis (R-WY) released updated text for theDigital Asset Market Clarity Actas the Senate prepares to vote on the bill next Tuesday, September 15th. This text reflects the continued, bipartisan hard work accomplished over the August recess.
Updates to the text include:
Provisions addressing when non-decentralized finance (DeFi) protocols must register with the Commodity Futures Trading Commission (CFTC) and be subject to the Bank Secrecy Act, similar to provisions in section 10301 of the Banking devision of the Clarity Act.
Specifying that DeFi provisions only apply to spot and cash digital commodi...