Leaked US Senate bill draft excludes stablecoin revenue provision

An unfinished draft of the U.S. Senate Banking Committee's crypto market structure bill, the CLARITY Act, has been leaked ahead of its official release, reported Eleanor Terrett, host of Crypto in America, on X. The leaked draft excludes a provision related to stablecoin revenue and instead includes two ethics regulations under the committee's jurisdiction. Terrett explained that provisions concerning felonies and insider trading are notable and that the text appears to reflect a compromise between the DeFi and traditional finance industries. This is reflected in Section 601, which addresses protections for software developers. According to industry sources cited by Terrett, an agreement was reached this week following a closed-door meeting last week.