CLARITY Act New Draft: Three Lawyers Break Down What Changed

Description

A new draft of the CLARITY Act — the comprehensive US crypto market structure bill — landed with over 300 pages of updates. Katherine Kirkpatrick Bos, Vy Le, and Josh Riezman of GSR dig into what actually changed: the addition of a specific intent standard for charging crypto developers under federal money laundering statutes (borrowed from the Blockchain Regulatory Certainty Act), what the secondary market treatment of tokens looks like in this draft, and whether the bill can clear the remaining political obstacles before the Memorial Day recess. They also explain exactly what could kill it: the bank lobby's remaining leverage and the Democrats' ethics demand. Josh also explains the two things GSR needs from CLARITY: a clear answer on the security/commodity line in secondary markets, and conditions that draw trading volume back onshore. This clip is from a longer conversation also covering crypto spring, Circle's Arc token presale, and Chair Atkins' DeFi speech. Full episode here: https://youtube.com/live/4m1iwfAyTW8 We go live every Tuesday at 12 PM ET — subscribe to catch it live. Thank you to our sponsor! Coinbase: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Chapters (relative to segment start): ⚖️ 0:00 What the new CLARITY draft contains and what it still needs 🛡️ 2:07 Josh's read: real energy, but not past 50% yet 📜 4:11 The BRCA provision: specific intent standard for developer liability 🏦 9:50 How TradFi thinks about the bill📊 13:34 What CLARITY must achieve for market makers like GSR 🎰 16:55 Lightning round: live passage odds from all three _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!