US Senate draft bill excludes staking, airdrops from securities definition

A revised draft of the Digital Asset Market Clarity (CLARITY) Act has been released by the U.S. Senate Banking Committee, according to Eleanor Terrett, host of Crypto in America. According to the draft, staking and airdrops would not be categorized as securities. The bill would also exempt decentralized physical infrastructure networks (DePINs) from the application of securities laws. Furthermore, it outlines a procedure for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to form a joint advisory committee to make decisions on crypto-related issues and resolve disputes. Provisions from the previous draft, including protections for self-custody and exemptions for DeFi, were also retained in the new version.