#CryptoClarityAct

The Digital Asset Market Clarity Act (Crypto Clarity Act) is proposed US legislation aimed at establishing a comprehensive regulatory framework for digital assets. Its primary purpose is to bring much-needed certainty to the crypto market by clearly defining which digital assets are considered commodities (regulated by the CFTC) and which are securities (regulated by the SEC).

Key provisions include:

* Jurisdictional Clarity: Delineates the roles of the SEC and CFTC, with the CFTC gaining significant oversight over "digital commodities" and related exchanges, brokers, and dealers.

* Definitions: Establishes clear definitions for various digital assets, including "digital commodities" and "mature blockchain systems."

* Consumer Protection: Mandates robust compliance standards, disclosures, and anti-money laundering (AML) rules for crypto firms.

* DeFi and Developer Protections: Offers some legal protections for non-custodial DeFi developers and wallet providers, aiming to foster innovation.