Crypto
US Senate Moves Closer to Passing Cryptocurrency Regulation Bill
The US Senate has moved forward with the CLARITY Act, a bill aimed at creating clearer cryptocurrency regulations and oversight.
The proposed legislation seeks to define how digital tokens are classified and which financial agencies would oversee them. It sets rules for deciding whether digital tokens are securities or commodities with regulatory responsibility assigned to the relevant financial agencies.
Senate Majority Leader John Thune, a Republican, called for setting up a key procedural vote on the CLARITY Act when the Senate returns from its August recess in mid-September.