#CryptoClarityAct CLARITY Act ≠ Cryptocurrency Act?

The CLARITY Act defines digital assets as "commodities".

The CLARITY Act establishes that digital assets, also referred to as "ancillary assets", are not securities, and their resale is not considered investment activity. However, it sets forth the conditions under which such transactions may be classified as investment contracts.

The bill declares digital assets as commodities, meaning they will more fully fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC), which will work in conjunction with the Securities and Exchange Commission (SEC). The bill also requires the SEC to amend its regulatory framework to ensure further investor protection.