U.S. Senate Banking Committee to Release Amended Draft of Digital Asset Bill 'CLARITY Act'
Summary
- The U.S. Senate Banking Committee said it will soon release an amended draft of the digital asset market structure bill, the 'CLARITY Act'.
- The bill reportedly includes provisions to establish a regulatory framework for virtual assets and to delineate the regulatory authority of the SEC and the CFTC.
- It said a key provision would exempt virtual assets that meet certain requirements from registration obligations under the 1933 Securities Act.
The U.S. Senate Banking Committee is expected to soon disclose an amended draft of the digital asset market structure bill, the 'CLARITY Act (CLARITY Act)'.
On the 4th (local time), according to Crypto in America host Eleanor Terrett, the Senate Banking Committee plans to release the amended draft during the day reflecting feedback from the industry and stakeholders.
The CLARITY Act aims to establish a regulatory framework for the virtual asset industry and delineates the regulatory authorities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
In particular, a key provision exempts virtual assets that meet certain requirements from the registration obligations under the 1933 Securities Act.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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