Cynthia Lummis Says Democrats Got ‘Almost Everything They Asked for’ in Revised CLARITY Act — ‘Now They N

Sen. Cynthia Lummis (R-Wyo.) shared the updated draft of the CLARITY Act on Thursday, incorporating more than 100 Democrat-requested changes.

What’s New?

Lummis said the revised text lays out when DeFi protocols, even those claiming to be decentralized, must register with the Commodity Futures Trading Commission (CFTC). It also restricts DeFi provisions to spot and cash transactions.

The Republican said the changes were incorporated in response to “Native American concerns” about prediction markets.

“Overall, this text contains over 100 changes requested by Democrats. Let’s get this done,” Lummis stated.