claritact

The CLARITY Act, also known as the Clarity of Digital Asset Market Law or the crypto market structure project, is advancing rapidly.
On May 14, the U.S. Senate Banking Committee will review and vote on legislation that has already passed the House with strong bipartisan support.
Highly anticipated by the industry, the proposal aims to provide clear "rules of the game" for digital assets and put an end to years of SEC regulation through enforcement.
It divides oversight between the SEC and the CFTC, treating tokens on "mature blockchains" that are sufficiently decentralized as digital commodities under CFTC jurisdiction.

If it gets the green light from the committee, the Clarity Act will move to a vote in the Senate floor, where it will hit another hurdle.
The regulatory framework for the crypto market in the United States might finally get off the ground. Next Thursday, March 14, the Senate Banking Committee will vote on the Clarity Act, a bill aimed at establishing federal rules for the crypto sector in the country.
This session marks the committee's second attempt to conduct the vote. Back in January, when the decision was supposed to happen, the process was stalled after Coinbase, the largest crypto exchange in the U.S., withdrew its support for the bill. The firm expressed concerns about how stablecoin rewards would be handled in the text, which, according to the exchange, would favor traditional banks.