#CLARITYAct
đ„ The US is changing the rules of the game for crypto: a new bill, H.R. 3633, has appeared in the Senate! đïžđ
A document amending bill H.R. 3633, titled the "Digital Asset Market Clarity Act," has been released in the US Senate.
What does this mean, and why is it important for the market?
đ Key highlights of the document:
1. Regulation of Digital Commodities: A clear division of authority between the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission).
2. CBDC Ban: The bill proposes amending the Federal Reserve Act to prohibit the Fed from offering certain products or services directly to individuals and from using a central bank digital currency (CBDC) for monetary policy.
â ïž Why does this matter?
On one hand, it is a step toward clearer rules of the game (market transparency and a clear demarcation of boundaries for the SEC and CFTC). On the other, it creates a major barrier to the implementation of government-issued digital currencies (CBDCs) in the US!
đ„ The US is changing the rules of the game for crypto: a new bill, H.R. 3633, has appeared in the Senate! đïžđ
A document amending bill H.R. 3633, titled the "Digital Asset Market Clarity Act," has been released in the US Senate.
What does this mean, and why is it important for the market?
đ Key highlights of the document:
1. Regulation of Digital Commodities: A clear division of authority between the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission).
2. CBDC Ban: The bill proposes amending the Federal Reserve Act to prohibit the Fed from offering certain products or services directly to individuals and from using a central bank digital currency (CBDC) for monetary policy.
â ïž Why does this matter?
On one hand, it is a step toward clearer rules of the game (market transparency and a clear demarcation of boundaries for the SEC and CFTC). On the other, it creates a major barrier to the implementation of government-issued digital currencies (CBDCs) in the US!