Summary
- The U.S. Senate agriculture committee said it has begun markup consideration of the crypto market structure bill (the CLARITY Act).
- It said the bill seeks to clarify standards for distinguishing securities and commodities for digital assets and to establish regulatory jurisdiction between the SEC and the CFTC.
- It said the Senate agriculture committee oversees the CFTC and handles review of crypto market structure legislation.
The U.S. Senate Committee on Agriculture, Nutrition, and Forestry has begun markup consideration of a digital asset (cryptocurrency) market structure bill (the CLARITY Act).
Eleanor Terrett, host of Crypto in America, reported on the 29th (local time) via X (formerly Twitter) that the committee has started reviewing specific provisions of the bill and discussing possible amendments.
The CLARITY Act aims to clarify standards for distinguishing digital assets as securities or commodities and to establish regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The Senate agriculture committee is the standing committee that oversees the CFTC and is responsible for reviewing legislation related to crypto market structure.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
