🚨NEW: Ahead of today’s CLARITY Act markup in @FinancialCmte and @HouseAgGOP, some industry players I’ve been speaking to are raising concerns over a new section in the amended text they’re describing as a “Gensler-era provision.” The change would eliminate exemptions for previously issued tokens, instead giving the SEC sweeping authority to determine, on a case-by-case basis, whether each token qualifies as a security. Critics say this approach reintroduces uncertainty the bill is meant to resolve. More to come.