#CryptoClarityAct
The CLARITY Act, or Digital Asset Market Structure Clarity Act, aims to establish a comprehensive regulatory framework for digital assets in the United States. Introduced by House Financial Services Committee Chairman French Hill, this bipartisan bill seeks to clarify the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating crypto assets ¹ ².
*Key Provisions:*
- *Digital Asset Classification*: Defines digital assets based on their functional characteristics, categorizing them as digital commodities, securities-like assets, or stablecoins.
- *Regulatory Jurisdiction*: Assigns regulatory roles to the SEC and CFTC based on asset characteristics, providing clarity on oversight responsibilities.
- *Registration Requirements*: Mandates registration for digital asset exchanges, brokers, and dealers with the CFTC or SEC, depending on the type of asset handled.
- *Disclosure Requirements*: Requires issuers to provide detailed disclosures, including source code availability, governance mechanisms, and token functionality.
- *Safe Harbor Provision*: Allows digital asset issuers to raise up to $75 million annually without triggering securities law registration, provided they meet specific conditions ³ ⁴.
*Impact on Crypto Industry:*
