U.S HOUSE COMMITTEE ADVANCES CLARITY ACR FOR CRYPTO REGULATION!

The US House Committee on Financial Services has advanced the Digital Asset Market Clarity (CLARITY) Act, a significant step towards establishing a clear regulatory framework for the cryptocurrency market. This bill aims to create a fair, functional, and forward-looking regulatory framework that captures everyone participating in the crypto market .

Key Provisions of the CLARITY Act:

Regulatory Framework: The bill proposes a comprehensive market-structure framework for digital assets, clarifying the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating digital assets.

Protection for Blockchain Developers: Amendments were proposed to protect blockchain developers and clarify their regulatory requirements.

Market Structure: The legislation aims to define regulatory responsibilities for digital assets in the United States, providing clearer rules for trading and custody of cryptocurrencies .

Progress of the Bill:

House Committee Vote: The House Financial Services Committee voted 32-19 to advance the bill, while the House Agriculture Committee voted 47-6 in favor of the legislation.

Next Steps: The CLARITY Act will now head to the full House floor for a vote. If passed, it will then need to be approved by the Senate before becoming law .

impact on the Crypto Industry:

Clearer Regulations: The CLARITY Act could provide much-needed clarity and certainty for businesses and investors in the cryptocurrency market.

Increased Adoption: By establishing a clear regulatory framework, the bill may encourage greater adoption and innovation in the crypto space .#TrumpTariffs