CoinVoice latest learned that, according to The Block, the crypto advocacy organization Stand With Crypto has joined 65 institutions to urge U.S. lawmakers to support the Clarity Act. The bill aims to establish a clear regulatory framework for the crypto industry, clarifying the regulatory division between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), requiring digital asset companies to conduct customer disclosures and segregate customer funds, and is expected to enter the review process next week.
In addition, Senate Banking Committee Chairman Tim Scott and Representative Cynthia Lummis released relevant legislative principles last month, and a digital asset hearing will be held on Wednesday. The letter specifically mentioned the urgency of legislation, pointing out that the U.S. needs to establish a regulatory framework by the end of September to avoid falling behind global competition. [Original link]