Summary
- Senator Cory Booker said that if Democrats are not appointed to commissioners at the SEC and CFTC, it will be difficult for the virtual asset market-structure bill to pass.
- He said the Clarity bill's essence is to establish a regulatory framework for the virtual asset industry and to divide the regulatory roles of the two agencies.
- He said a panel discussion suggested the bill would ultimately pass.
On the 9th (local time), according to crypto-focused media Decrypt, U.S. Senator Cory Booker (Democrat) said at the Blockchain Association's annual policy conference that it will be difficult for the virtual asset market-structure bill, the 'CLARITY' bill, to pass unless Democrats are appointed to commissioners at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
He said this is to preserve the agencies' independence so they are not swayed by President Trump. He added in a panel discussion held that afternoon that the bill would ultimately pass.
Clarity aims to establish a regulatory framework for the virtual asset industry, dividing the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It also stipulates exempting virtual assets that meet certain conditions from the registration requirements of the Securities Act of 1933.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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