CLARITY 法案的最终草案已在 5 月 14 日加价之前发布 – 其中包含什么内容？

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 adds restrictions to prevent crypto platforms from offering deposit-like yield on payment stablecoin balances . The release moves the Senate effort from private negotiation into a public committee process. If approved by the panel, the bill would still require further negotiations before reaching the Senate floor. However, its path remains uncertain because Democratic concerns over ethics restrictions for federal officials were not resolved in the text released this week. Still, several US lawmakers believe that the legislation could reach President Donald Trump's desk before July 4. Senator Thom Tillis said: “After months of painstaking negotiations with stakeholders, the updated CLARITY Act language is a bipartisan compromise that will provide regulatory certainty needed to foster innovation in the United States. I was proud to work with my colleagues on both sides of the aisle to develop this improved, consensus-based product, and I look forward to Congress quickly passing this legislation and sending it to President Trump’s desk soon.” Stablecoin rewards face new limits in CLARITY Act The most closely watched provision in the updated bill is Section 404, which targets stablecoin yield . The text would prohibit covered digital asset service providers and their affiliates from paying US customers passive interest or yield on payment stablecoin balances. That language is designed to prevent exchanges and other crypto platforms from offering products that resemble interest-bearing bank deposits without being regulated as banks. However, the bill still leav