#CryptoClarityAct #CryptoClarityAct #CryptoClarityAct Four senators outlined their proposed steps for creating digital asset market structure legislation and invited stakeholders to comment on the draft and answer a range of questions about the topic.

The initial discussion draft and the request for information were released Tuesday (July 22) by Sen. Tim Scott of South Carolina, Sen. Cynthia Lummis of Wyoming, Sen. Bill Hagerty of Tennessee and Sen. Bernie Moreno of Ohio, according to a Tuesday press release from the Senate Banking Committee.

The senators’ discussion draft “builds on” the CLARITY Act that was passed by the House last week, according to the release.

“My colleagues and I in the House and Senate share the same goal: to provide clear rules of the road for digital assets that protect investors, foster innovation, and keep the future of digital finance anchored in America,” Scott, who is chairman of the Senate Banking Committee, said in the release.

The committee highlighted several aspects of the discussion draft in the release, noting that it defines “ancillary assets” to clarify which digital assets are not securities, and creates disclosure requirements for offers, sales or distributions of these assets.