U.S. House Financial Services Committee urges Senate to pass digital asset bill 'CLARITY Act'
Summary
- The U.S. House Financial Services Committee urged the Senate to promptly pass the CLARITY Act.
- The committee said the CLARITY Act is key to establishing a clear federal regulatory framework that enables the U.S. to maintain a leading position in the global digital financial market.
- The bill includes establishing a regulatory framework for the digital asset industry, delineating the roles of the SEC and CFTC, and an exemption from registration requirements for digital assets that meet certain conditions.
On the 8th (local time), according to crypto-focused media CryptoBriefing, the U.S. House Financial Services Committee urged the Senate to promptly pass the CLARITY Act, a market-structure bill for digital assets (cryptocurrencies).
In a statement, the committee emphasized, "The CLARITY Act is key to establishing a clear federal regulatory framework that will enable the United States to maintain a leading position in the global digital financial market."
The bill aims to establish a regulatory framework for the digital asset industry. Specifically, it delineates the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and includes an exemption from the 1933 Securities Act registration requirements for digital assets that meet certain conditions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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