Follow like share
Yesterday, the House of Representatives passed Chairman French Hill’s (AR-02), H.R. 3633, the CLARITY Act, by bipartisan vote of 294-134. Support for the measure has rolled in both ahead of the vote and after.
International Swaps and Derivatives Association said: “ISDA commends the bipartisan effort to advance digital assets market structure legislation in the House Financial Services Committee and the House Agriculture Committee. This legislation will provide clarity to the emerging digital asset regulatory framework and includes provisions to enhance liquidity and efficiency for both digital and traditional markets. Going forward, ISDA is committed to working with Congress as it addresses these vital evolving markets.”
Ji Hun Kim, President and Acting Chief Executive Officer, Crypto Council for Innovation: “Currently, the U.S. is falling behind other major jurisdictions who have advanced regulatory frameworks for digital assets. Major economies like the European Union, Singapore, and Japan have made significant progress in this area. Without Congressional action, we risk American innovators migrating offshore and consumers turning to unregulated offshore markets. Further delay in establishing market structure legislation would pose risks to both U.S. economic competitiveness and national security. …Critically, the CLARITY Act provides for such clear rules and also includes important consumer protections, such as segregating customer funds, bankruptcy procedures, addressing conflicts of interest, and requiring risk disclosures of operation, ownership, and structure. We strongly support these requirements that would protect consumers and their funds.”
Jump Crypto said: “CLARITY represents a milestone of a legislative accomplishment to bring much needed certainty for builders and market participants. Market structure legislation is important to allow the digital asset industry to thrive in the USA. Congratulations to @FinancialCmte and @HouseAgGOP on the successful cross-committee, bipartisan product. Jump Crypto looks forward to engaging with the Senate to finish the work on this pivotal legislation.”
Kraken said: "Kraken commends the House Financial Services Committee and Agriculture Committee leadership for advancing bipartisan market structure legislation and driving this important discussion forward. Other major economies around the world are years ahead in putting clear rules in place for centralized intermediaries. After many years of legislative progress, it is critical that the US Congress put a market structure bill on the President's desk for signature by August."