CLARITY Act Advances with Ambitious Plan to Clarify Crypto Regulation

The United States has been trying to answer a question about cryptocurrency: who is in charge?

Crypto assets don't always fit into either category, creating uncertainty for developers, exchanges, and investors.

The Digital Asset Market Clarity Act (CLARITY) aims to create a more predictable federal framework by establishing rules for the issuance, trading, and supervision of crypto assets.

While it's not yet law, CLARITY has passed the US House of Representatives and advanced through relevant Senate committees. The bill would divide responsibility between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).