#CreatorPad

The Digital Asset Market Clarity (CLARITY) Act aims to establish a clear regulatory framework for digital assets in the United States. Key provisions include:

* Jurisdiction: Differentiating between "digital commodities" (regulated by the CFTC) and "digital securities" (regulated by the SEC), aiming to end the long-standing regulatory ambiguity.

* Mature Blockchain Systems: Introducing criteria to identify "mature blockchain systems" not controlled by any single entity, which would classify their associated digital assets as commodities.

* Consumer Protection: Implementing measures like anti-money laundering (AML) and know-your-customer (KYC) requirements for crypto platforms, treating them more like traditional financial institutions.

* Developer Protections: Offering potential safe harbours for "non-controlling" developers, wallet makers, and infrastructure providers in the DeFi space.

* Capital Raising: Providing a streamlined path for projects to raise up to $75 million annually under specific disclosure requirements, especially if aiming for decentralization.

The Act seeks to bring clarity, foster innovation, and enhance investor confidence in the crypto market.