#senatereleasesupdatedclarityacttext Senate Republicans have released an updated text for the Clarity Act, setting up new rules for the cryptocurrency market. The 616-page bill divides regulation between the SEC and CFTC while introducing new ethics guidelines aimed at stopping top government officials from issuing or promoting digital assets for pay while in office. It also gives protections to software developers so they are not treated as money transmitters. However, the bill faces pushback from several Senate Democrats and banking groups who say it leaves major loopholes and does not do enough to protect banks and consumers. Its path forward remains uncertain.

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