US Congressmen Reintroduce Securities Clarity Act to Define Scope of Digital Asset Regulation
Congressmen Tom Emmer and Darren Soto reintroduced the Securities Clarity Act on March 26, aiming to resolve the fuzzy boundaries between digital assets and consolidate the United States' position in the field of blockchain technology.
The bill reintroduces the concept of "investment contract assets" to separate the underlying digital assets from investment contract assets (securities). In simple terms, it is to distinguish the fundraising behavior at the time of coin issuance from the token itself, so that tokens that are sufficiently decentralized or have practical uses can get rid of the hat of securities.
Prior to this, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) had different opinions on the classification of cryptocurrencies, resulting in various regulatory uncertainties for project parties and exchanges.
At the same time, there are also cases where the SEC classifies some cryptocurrencies as securities, but the CFTC regards them as commodities. This disagreement also brings various uncertainties and legal risks to the relevant responsible parties.
Emmer said the new bill's clear definitions will help entrepreneurs assess risks and launch compliant products while ensuring that investors participate in emerging technologies without compromising consumer protection rights.
Sotto agreed and pointed out that the bill not only promotes economic growth, but also responsibly clarifies the regulatory framework, bringing necessary certainty to the industry, thereby protecting investors and stimulating innovation.
During President Trump's term, Congress paid more attention to the update of digital asset regulation and re-introduced the Securities Clarity Act. The core provisions of the bill have been incorporated into the 21st Century Financial Innovation and Technology (FIT21) Act passed in May 2024 and received bipartisan support. The passage of this independent proposal also marks a political consensus between the two parties on this issue.
This action shows that Congress is actively defining clear regulatory responsibilities for the SEC and CFTC to better respond to international regulatory challenges in the field of digital assets, thereby promoting the healthy development of the industry.
The United States is using this move to reshape the digital asset regulatory landscape, reduce corporate compliance costs, and regain the leading position in blockchain innovation.