#CryptoClarityAct

Republicans in the Senate Banking Committee—led by Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno—have introduced the Responsible Financial Innovation Act, expanding upon the House‑passed CLARITY Act.

Key highlights include:

• A novel “ancillary assets” category, defining fungible tokens that lack traditional equity‑like features (no dividends, voting, profits, or liquidation rights) and thus are deemed commodities under CFTC oversight JD Supra.

• Introduction of Regulation DA, allowing token issuers to raise up to $75 million annually over four years without SEC registration.

• Tailored semi‑annual disclosure obligations for ancillary‑asset issuers, plus measures to modernize digital‑asset regulations, enhance AML controls, and facilitate bank use of distributed ledgers.

Stakeholders now have a window for feedback as the Senate moves to clarify digital‑asset rules.