A summary of the latest developments in the CLARITY Act: Over 100 amendments exert pressure, and the differences on DeFi protection remain difficult to bridge.

According to ME News, on May 14th (UTC+8), as the US Senate Banking Committee deliberated on the Cryptocurrency Market Structure Act (CLARITY Act), supporters and opponents presented sharply contrasting positions. Democratic senators, led by longtime anti-crypto Senator Elizabeth Warren, introduced over 100 amendments to target core DeFi protection provisions. These amendments aim to modify: the Blockchain Regulatory Certainty Act (BRCA), protections for non-controlling software developers, DeFi front-end protections, tokenization-related provisions, and significantly expand the BSA/AML obligations for developers and digital asset companies. The DeFi Education Fund (DEF), a DeFi advocacy organization, has not remained passive, urging its supporters to lobby senators to strongly oppose the bill before the deliberation meeting. Prior to today's formal deliberation by the Banking Committee, negotiations between small bipartisan negotiating teams have failed to reach an agreement. Republican chief negotiator Senator Lummis stated that both sides have reached an agreement on 99% of the bill's content and hope to first push for committee passage before addressing the remaining 1% of disagreement. Democrats had previously insisted on making ethical and conflict-of-interest provisions concerning the "First Family" (the president's family) a prerequisite for supporting the bill, while also objecting to the provision protecting non-custodial software developers from prosecution under the Money Transmission Act. The Senate Banking Committee's review tonight (Beijing time) is expected to proceed in a partisan manner, and the final vote of the five pro-crypto Democrats remains unclear. However, the crypto community is generally optimistic about the bill's progress. Michael Saylor stated that the CLARITY Act will usher in the next wave of digital capital, digital credit, and digital equity in the US and globally. Aave founder Stani said the CLARITY Act is crucial for DeFi, providing developers with confidence and protection, and its passage could create a tailwind effect for DeFi similar to the GENIUS Act's impact on stablecoins. (Source: ME)