#GENIUSAct THE CLARITY ACT
The CLARITY Act.
Here, it is highlighted that decentralized governance is a key factor, encompassing users to validators, and considers how control is distributed.
Furthermore, in the section "Certification" of "Requirements for a Mature Blockchain System," the act offers a tentative first definition based on this principle:
"For the purposes of sections 4(a)(8), 4B, and 4C of the Securities Act of 1933, any issuer of digital commodity, person related to a digital commodity, person affiliated with a digital commodity, or decentralized governance system of the blockchain system may certify to the Securities and Exchange Commission that the blockchain system to which a digital commodity is related is a mature blockchain system."
The CLARITY Act.
This section allows key actors, such as issuers or governance systems, to request a certification that verifies decentralized governance, which implies a formal process to assess maturity. This means that a network must demonstrate that it does not depend on a single group to function.
In that same vein, the act also clarifies that "a blockchain system, along with its digital commodity, will not be excluded from being considered a mature blockchain system solely based on a functional, administrative, clerical, or ministerial action of a decentralized governance system, including any action taken by a person acting on behalf of and under the direction of the decentralized governance system..."
This indicates that certain routine activities will not disqualify a network, as long as the Commission approves it, protecting the interests of investors.#GENIUSAct $BTC $ETH
