#CryptoClarityAct
The Crypto Clarity Act aims to bring regulatory clarity to the digital asset space by defining clear boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jurisdictions over cryptocurrency.
*Key Provisions:*
- *Digital Asset Classification*: Clearly defines digital assets, digital commodities, and permitted payment stablecoins to avoid confusion.
- #CryptoClarityAct *Regulatory Oversight*: Splits oversight between SEC and CFTC based on asset usage, with SEC handling investment offerings and CFTC handling commodities and trading.
- #CryptoClarityAct *Registration Requirements*: Requires crypto businesses to register with CFTC or SEC, depending on asset type.
-#CryptoClarityAct *Self-Custody Rights*: Guarantees individuals' right to hold and use digital assets in their own wallets.
- *Disclosure Requirements*: Mandates regular updates on blockchain development, token supply, financials, and project risks ¹ ².
*Benefits:*
- *Predictable Oversight*: Provides clarity for crypto companies, startups, and large platforms.
- *Increased Investor Protection*: Encourages stronger protections, better disclosure standards, and confidence in token projects and exchanges.
- *US Innovation*: Positions the US as a global leader in digital finance ¹.
The CLARITY Act passed the House with bipartisan support but faces uncertainty in the Senate. If passed, it would reshape crypto regulation nationwide ³.