Concerns Arise Over Proposed Amendments to CLARITY Act in U.S. House Committees

According to PANews, industry insiders have expressed concerns over new provisions in the CLARITY Act amendments, which are set to be reviewed by the U.S. House Financial Services Committee and Agriculture Committee. The amendments, referred to as the 'Gensler Era Provisions,' propose eliminating exemptions for existing tokens and granting the SEC authority to determine on a case-by-case basis whether each token qualifies as a security. Critics argue that this approach could increase market uncertainty and contradict the original legislative intent.