According to Deep Tide TechFlow, on June 6, the U.S. House of Representatives plans to mark up the Digital Asset Market Structure Bill, the CLARITY Act, next Tuesday. Eight major crypto policy organizations jointly stated their call for Congress to include the Blockchain Regulatory Certainty Act (BRCA) in the CLARITY Act to protect software developers and infrastructure providers that do not hold user funds.
Some native crypto companies express concerns about the existing text of the bill, believing that it may give traditional financial institutions an advantage over crypto-native companies. According to the current text, SEC-registered firms such as Charles Schwab and other Wall Street institutions will immediately offer digital commodity services after the bill is passed, while crypto-native companies may face a more complex CFTC registration process.