Editor's PiCK
Cynthia Lummis: "Digital Asset Market Structure Bill Expected to Pass Before Christmas This Year"
Summary
- Senator Cynthia Lummis stated that there is a high possibility the Digital Asset Market Structure Bill will be passed by Congress within this year.
- The bill classifies Bitcoin and cryptocurrencies as 'commodities' and grants regulatory authority to the Commodity Futures Trading Commission (CFTC).
- It also includes stipulations for the CFTC to issue licenses to digital asset exchanges, brokers, and dealers.
Republican Senator Cynthia Lummis from the United States stated that there is a high possibility the digital asset (cryptocurrency) market structure bill (Clarity Act) will be passed by Congress within this year.
On the 23rd (local time), according to the digital asset specialist channel Bitcoin Archive, Senator Lummis said, "The Bitcoin and cryptocurrency market structure bill will pass Congress before Christmas." This bill refers to the Digital Asset Market Structure Act (Clarity Act), which is regarded as one of the 'three major digital asset laws' in the United States.
Meanwhile, the Clarity Act classifies decentralized blockchain-based digital assets as 'commodities' instead of 'securities', and grants regulatory authority to the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC). It also stipulates that the CFTC is to issue licenses for digital asset exchanges, brokers, and dealers.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[New York Stock Market Briefing] Rebound on bargain hunting in blue chips…Apple jumps 4%](https://media.bloomingbit.io/PROD/news/3710ded9-1248-489c-ae01-8ba047cfb9a2.webp?w=250)
