Summary
- Sen. Cynthia Lummis said the CLARITY Act could help ease regulatory uncertainty in the digital-asset industry.
- She said the CLARITY Act includes provisions clarifying regulation of the U.S. digital-asset market structure and the oversight boundaries of the SEC and CFTC.
- The market is watching both the potential for broader integration of the U.S. digital-asset industry into the regulatory system if the bill passes and the possibility of delays in the Senate's review schedule.
Forecast Trend Report by Period
Sen. Cynthia Lummis said the CLARITY Act would help end regulatory uncertainty in the U.S. digital-asset industry.
Markets are watching whether the bill will advance in the Senate.
Cointelegraph reported on May 22 that Lummis said the CLARITY Act would end the regulatory ambiguity facing U.S. digital-asset consumers and the industry.
The CLARITY Act is legislation aimed at reshaping regulation of the U.S. digital-asset market. It includes provisions to clarify the division of oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Lummis said U.S. digital-asset companies have faced uncertainty because of the lack of clear regulatory standards. She added that establishing a formal regulatory framework could support industry growth and help protect consumers.
Market participants are also focused on the possibility that passage of the bill could further bring the U.S. digital-asset industry into the regulatory system.
Still, Senate consideration could be delayed as debate over the measure overlaps with work on the U.S. budget bill and other major legislation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.