TechFlow News: On May 13, journalist Eleanor Terrett (@EleanorTerrett) reported that, on the eve of the U.S. Senate Banking Committee’s scheduled hearing tomorrow on the “Clarity for Digital Assets Act” (the “Clarity Act”), committee members submitted over 100 amendments last night. The DeFi advocacy group @fund_defi has labeled some of these amendments “anti-DeFi amendments,” arguing they would harm DeFi technology, users, and developers—and urging supporters to urgently lobby senators to oppose them.
These amendments were jointly introduced by Democratic Senators Catherine Cortez Masto, Andy Kim, Chris Van Hollen, Elizabeth Warren, and Jack Reed. They target core DeFi protections in the bill—including the “Blockchain Regulatory Certainty Act” (BRCA), protections for non-controlling software developers, DeFi frontend protections, tokenization provisions, and proposals to expand Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) compliance obligations for developers and digital asset businesses.
