According to ChainCatcher, crypto advocacy organization Stand With Crypto and 65 other organizations urged U.S. lawmakers to support the Digital Asset Market Clarity Act. The bill aims to establish a clear regulatory framework for the crypto industry, clarify the regulatory division between the SEC and the CFTC, and require digital asset companies to disclose customer information and isolate customer funds. It is expected to enter the review process next week.
In addition, Senate Banking Committee Chairman Tim Scott and Senator Cynthia Lummis released relevant legislative principles last month and will hold a digital asset hearing on Wednesday. The letter specifically mentioned the urgency of legislation, pointing out that the United States needs to establish a regulatory framework by the end of September to avoid lagging behind global competition.