Virtual asset market-structure bill expected to be voted on the Senate floor early next year
Summary
- U.S. Senate Banking Committee Chair Tim Scott said that the virtual asset market-structure bill will be voted on the Senate floor early next year.
- The CLARITY bill includes provisions that distinguish the regulatory authority of the SEC and the CFTC.
- It noted that it features an exemption from 1933 Securities Act registration requirements for certain virtual assets.
On the 18th (local time), according to Crypto in America host Eleanor Terrett (Eleanor Terrett), U.S. Senate Banking Committee Chair Tim Scott said that the schedule for handling the virtual asset (cryptocurrency) market-structure bill (CLARITY) is "to go through a December markup (discussion and amendment process before referral to the floor) and be voted on the Senate floor early next year."
The CLARITY bill aims to establish a clear regulatory framework for the virtual asset industry, distinguishes the regulatory authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and provides for exempting virtual assets that meet certain requirements from the 1933 Securities Act registration requirements.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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