Summary
- He said the Senate Banking Committee’s markup approval of the CLARITY Act marked progress toward making the US the global capital of digital assets.
- He said the bill would set clear standards for distinguishing securities from commodities, establish clear rules for digital-asset trading, and help end regulation by enforcement.
- Markets are watching whether the CLARITY Act ultimately passes and how that could affect institutional investment in the US and growth in the digital-asset industry.
Forecast Trend Report by Period
CFTC Chairman Mike Selig welcomed the Senate Banking Committee’s approval of the CLARITY Act, saying the move marks progress toward a clearer US regulatory framework for digital assets.
On May 14, Selig wrote on X, formerly Twitter, that the committee’s passage of the bill in markup was “progress toward making the United States the crypto capital of the world.”
The legislation lays out clear standards for distinguishing securities from commodities, he wrote.
It would also establish clear rules for digital-asset trading and help end regulation by enforcement.
Selig said that would help the US remain a global hub for digital-asset innovation in the coming years.
The US Congress has recently continued discussions on the CLARITY Act as lawmakers seek to define market-structure rules and jurisdiction for digital assets.
Markets are watching whether the bill ultimately passes and how it could affect institutional investment in the US and growth in the digital-asset industry.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
