Citigroup Chief Backs CLARITY Act Regulatory Framework

Citigroup CEO Jane Fraser has expressed her support for the passage of the US CLARITY Act, a bill aimed at establishing a regulatory framework for digital assets. Speaking on August 14, Fraser stated that 'we want good legislation to pass', indicating her backing for the proposed law.

The CLARITY Act seeks to define the jurisdictions of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in relation to digital assets. This move is part of a broader effort to provide clarity on regulatory matters affecting the industry.