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Senate Democrats involved in negotiations over the CLARITY Act are preparing to file a counterproposal in response to the latest revised text from Republicans. Republicans had previously described the version released on Sunday as their "last, best, and final offer" to Democrats.Some Democrats remain dissatisfied with the crypto asset ethics provisions in the latest text. Senator Mark Warner said that Democrats who have been involved in the negotiations are putting forward a counterproposal. The proposal will be introduced before a key procedural vote on Tuesday, which will determine whether the CLARITY Act can advance to full Senate consideration. (Cointelegraph)
According to CNBC, Elizabeth Warren, the top Democrat on the Senate Banking Committee, will criticize the Clarity Act cryptocurrency market structure bill during remarks scheduled for Monday evening local time. The Senate is expected to hold a key preliminary vote on the bill Tuesday afternoon.
Odaily reports: Bitcoin News posted on X that Jack Dorsey supports open AI model releases, independent evaluation, and review of dangerous capabilities, believing that open-weight models allow independent researchers to reproduce results, identify problems, and develop safeguards. He opposes industry-wide restrictions on compute, training runs, and model development negotiated by current leading labs, arguing that this could make existing leading companies the only capable participants and exclude entities that could identify problems or build alternatives. Jack Dorsey stated that restricting general model releases should be a last resort, implemented only when there is independently reviewable evidence that release would significantly increase catastrophic risks that cannot be addressed through narrower measures; he hopes users can run and control AI tools on their own devices.
According to a report by Eleanor Terrett, an increasing number of U.S. Senate Democrats are open to supporting the Clarity Act, but remain dissatisfied with the current ethics provisions. Some Democratic senators who previously supported sending the bill to committee have yet to take a clear stance, as they had expected stronger ethics clauses to be added before a floor vote. The report noted that Senator Kirsten Gillibrand is encouraging colleagues to vote to advance the bill and continue discussions during the full Senate session.
Odaily News: ETF Store President Nate Geraci posted on X platform that the fundamental reason the CLARITY Act has not yet passed is that cryptocurrency is disrupting the traditional banking business model.He stated that although there are currently multiple controversies surrounding the bill, including ethics provisions and BRCA, the core issue is that cryptocurrency is reducing the need for banks as financial intermediaries and disrupting the banking business model that relies on net interest income, as well as the political forces that support this model.
Odaily News: U.S. Treasury Secretary Scott Bessent posted on X' platform, stating: The CLARITY Act is crucial to ensuring the United States wins the global new technology race. This is also why Congress passed the GENIUS Act, aimed at ensuring that stablecoin infrastructure—this revolutionary financial technology—is built in the United States.Bessent stated that ensuring the continued prosperity of the U.S. community banking sector has been a consistent focus since he took office. The government's dual emphasis on promoting the development of new digital technologies and appropriately adjusting community bank regulation is key to both sectors jointly driving U.S. economic growth. The final draft of the CLARITY Act advances this mission by granting the Treasury Secretary additional authority to take action when deposit outflow facts change and adversely affect community banks.Bessent said: If stablecoins cause harm to community banks, he will not hesitate to use these tools to ensure they are fully protected. Community banks are vital to U.S. economic performance and Main Street growth. Economic security is national security, and community banks play an important role in this principle.
Odaily News: According to crypto reporter Eleanor Terrett, eight banking trade groups have stated that the deposit outflow "circuit breaker" mechanism added to the new version of the CLARITY Act is not an effective safeguard, because the mechanism would only be triggered after large-scale deposit outflows have already occurred.In a letter to Senate leaders, these groups called for further tightening of provisions related to stablecoin rewards, in order to close loopholes that could allow stablecoin balances to earn interest-like payments.
According to CoinDesk, the Senate is set to vote on the Digital Asset Market Clarity Act (CLARITY), with analysts predicting that even if the bill fails, Wall Street's expansion in crypto business related to tokenization and ETFs has already become irreversible.
U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins expressed support for the CLARITY Act to establish a regulatory framework during the hearing, while emphasizing that the SEC will still proceed with its planned crypto asset rulemaking even if the bill fails to pass.
US Senator Cynthia Lummis stated that Democrats will continue to monitor and request details on consumer protection and liability disclaimers during the legislative process of the Crypto Markets Clarity Act.
: On September 9, Bulgaria's National Assembly passed amendments to the Tax and Social Security Procedure Code with 149 votes in favor, 0 against, and 10 abstentions, which will allow the Bulgarian National Revenue Agency to obtain detailed information on crypto asset users. The bill was approved by the 240-seat parliament.The amendments implement two European Union (EU) directives, requiring crypto asset-related businesses to register and report to the Bulgarian National Revenue Agency users' names, addresses, dates and places of birth, tax residences, and tax identification numbers, as well as to submit transaction data for various types of crypto assets, including gross amounts received, number of transactions, number of fiat buy and sell transactions, and crypto asset exchange activity.Privacy advocates criticized the scope of data collection as overly broad, arguing that mandatory disclosure of personal information could pose security risks. Crypto traders and small businesses said the registration and reporting requirements will increase compliance costs; supporters of the bill argue it aligns with EU standards and helps curb tax evasion. The relevant directives require EU member states to complete adoption by December 31, 2025. (Bitcoin.com News)
According to an Odaily report, a Fox Business crypto reporter posted on X that Senate Democrats are expected to meet tonight to discuss Clarity Act strategy and coordinate a counterproposal to the text Republicans released last night, even though Republicans insist that the text is their "last, best, and final" offer. The bill will face its first major test on the Senate floor in less than 24 hours.
Following feedback on the digital asset market, UK regulators have decided to develop and publish a tokenization roadmap to bolster market confidence in regulatory rules and infrastructure.
Trump agreed to include an ethics provision in the Clarity Act that bans senior officials from issuing cryptocurrencies, while also allowing him to continue profiting from World Liberty Financial, breaking the legislative deadlock.
Bitcoin News posted on X platform stating that Coin Center says the latest revised BRCA text removes the provision that provided explicit criminal liability protection for developers who do not control user funds under 18 U.S.C. § 1960. The revised text would still protect developers who do not control user funds from being deemed money transmitters under the Bank Secrecy Act and FinCEN regulations, thereby significantly raising the difficulty of prosecuting developers solely for failing to obtain a money transmitter license or register with the federal government. However, the text cannot prevent prosecutors from arguing that developers knowingly transmitted funds derived from criminal activity, a theory that has become the core basis in the criminal cases against Tornado Cash developer Roman Storm and Samourai Wallet developers. Coin Center believes that this compromise represents substantive progress on the regulatory front, but developers still face broader money transmission criminal prosecution theories from the U.S. Department of Justice; if the CLARITY Act passes with the revised BRCA, the related disputes will mainly shift to the courts.
The U.S. Senate is scheduled to hold a final vote on the Clarity Act on September 15, but the bill faces key controversy due to a provision allowing cryptocurrency platforms to pay stablecoin yields to users, which has sparked strong opposition from the banking sector.
As the Clarity Act advances through the Senate, it faces opposition from 18 state attorneys general, who argue that the bill would undermine state-level regulatory authority; meanwhile, the bill's proponents have introduced compromise provisions to address conflict-of-interest concerns.
Odaily reports: Bitcoin News posted on X that the U.S. House Financial Services Committee plans to review H.R. 8957, the "American Reserve Modernization Act of 2026," on Wednesday, September 16, 2026, and the bill will enter the committee voting process. The bill was introduced by Representative Nick Begich, with Jared Golden as the only Democratic cosponsor. It proposes establishing a Strategic Bitcoin Reserve at the U.S. Department of the Treasury and creating a separate digital asset reserve for non-Bitcoin assets. The bill stipulates that compliant Bitcoin obtained by the federal government through forfeiture will be included in the reserve, and funds from the sale or exchange of non-Bitcoin assets may be used to purchase more Bitcoin or repay government debt. The Treasury Department and the Commerce Department will also study strategies for budget-neutral acquisition of more Bitcoin over the next five years, with the relevant provisions explicitly not authorizing funding for such purchases through borrowing, new taxes, or deficit spending. The committee review is scheduled to begin at 10:00 a.m. Eastern Time on Wednesday.
Odaily News: A Fox Business crypto reporter posted on X that US House Republican Whip Emmer told Kristin Smith at the Solana Institute summit that he is concerned about the amendments to the BRCA. Emmer said: "I don't like the fact that you've essentially given up the safe harbor on the criminal liability side. I do worry that local district attorneys will generally turn it more into a weaponized tool." Emmer was the original proposer of the BRCA and first introduced the bill in the House in 2018.
Over the past year, the AI field has experienced explosive growth, and this pace seems to have left frontier AI developers struggling to keep up in a short period of time. Now, these companies are beginning to call for a slower pace of research and stronger regulation and oversight.However, the AI safety crises that have previously been brought to light are unlikely to similarly impact the customers of AI giants like Anthropic and OpenAI. Enterprises typically deploy models that have already been commercialized and whose capabilities are relatively well understood by the market. These models may not be at the absolute cutting edge of AI, but their capabilities are already powerful enough to handle the various tasks enterprises assign to them.Stephen Messer, co-founder of Collective, said that most enterprises are not using the most cutting-edge models. They may even still be using versions from two years ago, and for the work they are doing, these models are actually more than sufficient. Some users don't even really know how to effectively prompt the models. Therefore, if the pace of AI development slows down, it won't have much of an impact on them. (WSJ)