US SEC crypto TF receives two comment letters… "related to the Clarity Act"

The US Securities and Exchange Commission (SEC) has received two comment letters related to the crypto market structure bill, the Clarity Act.

According to Cointelegraph on the 21st (local time), the SEC’s Crypto Task Force (TF) recently received two comment letters—one from DK Willard, representing an individual user in Louisiana, and another from the Blockchain Association. Both letters are said to include proposals related to the Clarity Act.

Specifically, Willard’s letter proposed that the Clarity Act include requirements for transparency as well as measures to prevent fraud and market manipulation. In the letter, Willard noted that “exemptions in certain federal laws could allow developers and platforms to evade core investor-protection obligations.”

The Blockchain Association, in its letter, proposed that firms trading tokenized stocks or DeFi assets should not be considered “dealers” under US securities laws.

Meanwhile, the US Senate continues discussions on the Clarity Act. Patrick Witt, executive director of the White House Digital Asset Advisory Council, urged passage of the Clarity Act the previous day (20th), saying that “compromise is unavoidable to secure 60 votes in the Senate.”