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Note to XRP holders: CLARITY Act update will be released before September 15

2026-09-11 21:34:42
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Senate Republicans release update to CLARITY bill

Senate Republicans have released the latest revision to the CLARITY Act. The changes were reached during the August recess and are intended to prepare for a closing debate vote scheduled for September 15. Former Fox Business Television reporter Eleanor Terrett reported on the text update.

This amendment mainly targets three specific areas of the bill. Among them, the ethical aspects remain unchanged, and the BRCA provisions and provisions related to stablecoin gains have not been changed. The Republican update focuses on registration requirements for decentralized finance (DeFi), the scope of DeFi activities covered by the bill, and the role of credit unions.

NEW: Senate Republicans have released updated Clarity Act text reflecting changes negotiated over the August recess.There appear to be no changes to the ethics section. BRCA and stablecoin yield sections also remain the same.The changes here include:Requiring…pic.twitter.com/cYIlr2VsLG-Eleanor Terrett (@EleanorTerrett)September 10, 2026

DeFi protocol faces registration requirements

The updated text requires non-decentralized DeFi protocol to register with the Commodity Futures Trading Commission (CFTC). The change echoes section 10301 of the Banking Committee portion of the bill. It marks a shift in the direction of regulation to bring semi-centralized DeFi operations into a formal regulatory framework rather than leaving their legal status blurred.

It is crucial to distinguish between "decentralized" and "non-decentralized" agreements. Fully decentralized agreements are not subject to this registration requirement, while non-decentralized agreements must be adhered to.

Tribe gets response on forecast market issues

Second amendment limits DeFi-related terms to spot or cash digital commodity trading. The revision responds to concerns raised by tribal betting groups about blockchain-based prediction markets.

Previously, tribal groups argued that the CLARITY Act could cause prediction market platforms to operate like state-regulated casinos without having to follow the same rules. The Indian Gaming Association accordingly took a positive opposition to the bill. The updated text limits DeFi's coverage to spot and cash transactions.

Credit unions are explicitly authorized

The third amendment clarifies the authority of credit unions to engage in cryptocurrency business. Prior to this, credit unions have been seeking clear definitions at the legislative level in order to carry out digital asset-related business. The updated text directly provides this clarity.

What this means for the September 15 vote

The September 15 closing debate vote requires 60 votes to move the bill forward. All 53 Senate Republicans are expected to vote in favor. Therefore, the Democratic Party needs another seven votes in favor.

The updated text does not change the ethical provisions. The provision is a major point of disagreement among several Senate Democrats, including Senators Alsbrooks, Gallego and Warner. They said the bill still fell short in terms of ethical standards and consumer protection.

A vote to end debate is imminent

Treasury Secretary Scott Bessant urged the Senate to agree to a motion to initiate proceedings. He warned that failure to act "will send a troubling signal to our allies and adversaries that the United States is unwilling to take a leadership role in the future development of digital assets."

House Financial Services Committee Chairman French Hill said lawmakers have made significant progress and are confident enough votes are in place. A vote on September 15 will confirm whether this confidence holds true.

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