[Amendment to the 'CLARITY Act' Applying Securities Laws Prohibiting Insider Trading to Crypto Assets Passed] Golden Finance reports that on May 15, Senator Cynthia Lummis proposed an amendment during the Banking Committee review of the 'CLARITY Act,' requiring existing securities laws prohibiting insider trading to be applied to crypto assets, particularly 'ancillary assets.' Note: 'Ancillary assets' refer to a category of crypto assets defined in the act that are related to securities but not fully classified as securities. Senator Warren opposed the amendment, stating that it only addresses surface-level issues, while the act itself creates a larger loophole—many assets with characteristics of securities would not be classified as 'ancillary assets' and thus would not be subject to insider trading rules at all. 'While I support combating all forms of insider trading, this patchwork solution is far from sufficient to address the problem. Moreover, it gives the public a false sense of security, making them believe they are protected from insider trading in the crypto space—when in reality, they are not. Insiders will still exploit loopholes. Therefore, I urge my colleagues to vote against this amendment.' The amendment was passed with 18 votes in favor and 6 against. The 'Cryptocurrency Market Structure Act' (i.e., the CLARITY Act) is currently undergoing debate and voting on its amendments one by one.