U.S. Senate Banking Committee Reviews Amendments to Digital Asset Market Clarity Act

The U.S. Senate Banking Committee is set to review numerous amendments to the Digital Asset Market Clarity Act during Thursday's markup session. According to NS3.AI, the proposed changes address various aspects such as protections for decentralized finance (DeFi), safe harbors for software developers, limits on stablecoin yields, and conflict-of-interest regulations for senior officials. Despite the extensive list of amendments, most are not expected to pass. The bill is anticipated to advance out of the committee this week. However, Democrats, including Senator Kirsten Gillibrand, have indicated that the legislation will not pass the Senate without the inclusion of an ethics provision.