Summary
- Senator Cynthia Lummis stated that the "CLARITY Act" is expected to be delivered to President Donald Trump before Thanksgiving.
- The bill focuses on establishing a regulatory framework for the digital asset industry and distinguishing the regulatory powers of the SEC and CFTC.
- The key provision exempts certain digital assets that meet specific requirements from the registration obligations under the Securities Act of 1933.
According to Cointelegraph, a digital asset (cryptocurrency) media outlet, on the 20th (local time), US Senator Cynthia Lummis announced at the Jackson Hole SALT Conference that the final version of the digital asset market structure bill, the CLARITY Act, is expected to be delivered to President Donald Trump before Thanksgiving.
Senator Lummis explained, "The Senate Banking Committee plans to pass the bill by the end of September, and the Senate Agriculture Committee will review it by the end of October before submitting it to President Trump."
The CLARITY Act aims to establish a regulatory framework for the digital asset industry and delineates the regulatory authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Notably, a key provision exempts certain digital assets that meet specific requirements from the registration obligations under the Securities Act of 1933.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
