🇺🇸 The cryptocurrency market structure bill must be submitted to Donald Trump for signature by November 27
Key provisions of CLARITY:
- Introduction of a unified regulatory framework for digital assets in the USA.
- Delineation of powers between the SEC and CFTC.
- The SEC will oversee the issuance and capital raising for crypto projects. The CFTC will be responsible for regulating the trading of digital commodities.
- Secondary trading of digital assets does not necessarily make them securities.
- A self-certification mechanism for issuers: a company can declare that its token is not a security, and the SEC has the right to challenge this decision within 60 days.
- Update of the definition of an investment contract.
- Establishment of standards for AML/KYC