#CryptoClarityAct

In cryptocurrency legislation, the Digital Asset Clarity Act aims to resolve the ongoing conflict between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding which entity is responsible for regulating cryptocurrencies.

The act proposes a framework to determine whether a cryptocurrency is classified as a commodity under the CFTC or a security under the SEC.

This clarity was a crucial requirement for businesses operating in the sector, as this ambiguity has been a barrier to entry for large institutions.