The CLARITY Act Gets 107 Amendments: Washington Finally Decides Crypto Is 'A Real Asset' If It Can Bear 40% Yield on Stablecoins
WASHINGTON D.C. — The Senate Banking Committee concluded its marathon markup session at 3:47 AM ET today, with Chairman Pat Toomey declaring the Digital Asset Market Clarity Act “officially clear” despite the bill now sporting 107 amendments, an extra $28 billion in proposed stablecoin yield-bearing mandates, and a new requirement that every DeFi protocol must file a “Regret Acknowledgment Form” before executing any smart contract transaction.
“This legislation finally brings much-needed clarity to the crypto space,” said Senator Elizabeth Warren, who introduced the 42nd and 43rd amendments during a tea break. “We need to ensure that stablecoins cannot earn yield while simultaneously avoiding bank regulation. How is that even possible?”