#CryptoClarityAct CryptoClarityAct Overview
The *CryptoClarity Act* is a proposed US law aiming to bring regulatory clarity to the cryptocurrency market. It seeks to define digital assets, determine regulatory oversight between the SEC and CFTC, and establish guidelines for crypto exchanges and custodians.¹ ² ³
Key Provisions
- *Regulatory Clarity*: Defines digital assets as either securities (SEC oversight) or commodities (CFTC jurisdiction).
- *Provisional Registration*: Allows exchanges, brokers, and custodians to operate while finalizing compliance.
- *Innovation Support*: Exempts DeFi activities and self-custodial transactions from certain regulations.
Impact and Progress
- The bill has bipartisan support and passed the House Agriculture Committee.
- Aims to reduce regulatory uncertainty and foster innovation in the US crypto market.