Summary
- "Said that discussions on the 'CLARITY Act' have stalled in the U.S. Senate."
- Said the bill's review schedule could be further delayed due to the leak of the Democrats' decentralized finance (DeFi) regulatory proposal.
- Said the bill's core elements are clarifying the virtual asset regulatory framework and a registration exemption provision.
On the 9th (local time), Eleanor Terrett, host of Crypto in America, said on X(Formerly Twitter), "There is a dispute between Democrats and Republicans in the U.S. Senate over the leak of the Democrats' decentralized finance (DeFi) regulatory proposal," and added, "As a result, discussions on the digital asset market-structure bill, the 'CLARITY Act', have stalled, and the bill's review schedule may be further delayed."
The CLARITY Act aims to clarify the regulatory framework for the virtual asset (cryptocurrency) industry and delineate the jurisdictional authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
It also includes a key provision that would exempt virtual assets that meet certain requirements from registration obligations under the Securities Act of 1933.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)