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US Senate Banking Committee to Vote on Revised 309-Page CLARITY Act on May 14

GateNews

Regulation & Policy

2026-05-13 20:12:03

According to the US Senate Banking Committee, the committee is scheduled to vote on the revised CLARITY Act on May 14. The updated 309-page draft, which has been under preparation since January, addresses previous concerns from cryptocurrency companies regarding decentralized finance protections and stablecoin provisions.

Cardano founder Charles Hoskinson stated that the bill must retain Section 604 to protect open-source developers, dismissing calls to remove the clause as “absurd.” Hoskinson argued that removing the provision would unfairly hold developers liable for crimes committed by unauthorized third parties using their software, threatening the open-source innovation environment.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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