CFTC Chairman Announces the Upcoming Issuance of the "Clear Act" as the U.S. Crypto Regulatory Framework Makes New Breakthrough

According to the CFTC official website, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC) recently stated that the "Digital Asset Market Transparency Act" (hereinafter referred to as the "Clear Act") has entered the final critical stage of the legislative process, and Congress is about to formally issue the act, establishing a dedicated regulatory framework for the digital asset market.

This news marks a significant step forward for the U.S. in the field of cryptocurrency regulation, with the potential to end the long-standing regulatory ambiguity faced by the industry.

The core of the act is to create a tailored regulatory system that defines compliance boundaries for the digital asset market, ensures the safe and orderly development of the market within the U.S., and prevents the industry from growing wildly in a regulatory vacuum.

If the "Clear Act" is successfully implemented, it will provide much-needed legal certainty for U.S. cryptocurrency exchanges, custodians, and various market participants.

At the same time, the act is expected to clarify the current overlapping regulatory responsibilities and ambiguous authority between multiple departments, such as the SEC and CFTC, clearing obstacles for compliant operations in the crypto industry and laying a solid institutional foundation for technological innovation and industrial development.

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