CLARITY Act’s final draft has been released ahead of May 14 markup – What’s in it?

On May 12, the Senate Banking Committee released updated text of the CLARITY Act ahead of a scheduled May 14 markup. The bill would establish new rules for digital asset intermediaries, define how certain network tokens are treated, expand the role of federal market regulators, and create a path for banks to offer crypto-related services. It also preserves protections sought by decentralized finance developers and ad…