U.S. Senate Banking Committee Chairman "CLARITY Act, Expected Support from 12~18 Democratic Lawmakers"
Summary
- U.S. Senate Banking Committee Chairman Tim Scott stated that 12~18 Democratic lawmakers are expected to support the 'CLARITY Act'.
- This bill aims to establish a regulatory framework for the virtual asset industry, distinguish the regulatory authorities of the SEC and CFTC, and includes an exemption from the 1933 Securities Act registration requirement for certain virtual assets.
- He explained that bipartisan support of more than 60 votes is required for the bill to pass the Senate.
According to Coindesk, a media outlet specializing in virtual assets (cryptocurrencies), on the 19th (local time), Tim Scott, Chairman of the U.S. Senate Banking Committee, stated that he expects "12~18 Democratic lawmakers to support" the digital asset market structure bill, the 'CLARITY Act', which has passed the House of Representatives.
The CLARITY Act aims to establish a regulatory framework for the virtual asset industry and distinguishes the regulatory authorities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
In particular, the core provision is the exemption from the registration requirement under the 1933 Securities Act for certain virtual assets that meet specific conditions.
For the bill to pass the Senate, bipartisan support of more than 60 votes is necessary.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
