US Unveils New Framework for Crypto Regulation with CLARITY Act
The United States is shifting its stance towards cryptocurrencies, according to Shah Ramezani, CEO of Noah. The CLARITY Act outlines the U.S. approach to digital-asset regulation by distinguishing between digital commodities and securities.
Regulatory oversight for digital commodities will be assigned to the Commodity Futures Trading Commission (CFTC), while the Securities and Exchange Commission (SEC) will oversee securities. This move is part of a more supportive framework for cryptocurrencies in the U.S.
The GENIUS Act, which was previously enacted, sets rules for stablecoins, including reserve requirements and issuer oversight. Tax regulations for cryptocurrencies remain defined by the Internal Revenue Service (IRS).
These regulatory measures are seen as indicators of a maturing regulatory landscape in the U.S., potentially enhancing the attractiveness of the market for digital assets.