#CryptoClarityAct

The CLARITY Act aims to bring regulatory clarity to the cryptocurrency space by defining digital assets and dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Key provisions include ¹ ² ³:

- *Digital Asset Classification*: Clearly defines digital assets, distinguishing between securities and commodities.

- *Regulatory Oversight*: Assigns regulatory roles based on asset usage, with the SEC handling investment offerings and the CFTC overseeing commodities and trading.

- *Decentralization Criteria*: Defines "mature blockchain systems" as those with no single controlling entity, eligible for lighter regulation.

- *Registration Requirements*: Mandates registration for crypto businesses, including exchanges, brokers, and dealers.

- *Self-Custody Rights*: Guarantees individuals' right to hold digital assets in their own wallets.

The Act passed the House with bipartisan support but faces uncertainty in the Senate ².