On May 29, the president of the Financial Services Committee of the House of Representatives, French Hill (R-AR), presented the law of clarity of the digital asset market (clarity), a fundamental legislation aimed at establishing a regulatory framework for cryptographic assets in the United States.
Copatrochocinated by eight other members of the Congress, five Republicans and three Democrats, the bill seeks to provide very necessary clarity and protection within the Digital Assets Ecosystem.
The clarity law requires transparency for cryptographic companies
COLINA PRESIDENT emphasized The importance of the law of clarity, which states: “Our bill has long clarity to the digital asset ecosystem, prioritizes the protection of the US consumer and innovation, and develops our work in the 118th Congress.”
Hill also expressed optimism about the potential of the bill to ensure the position of the United States as a world leader in digital assets and hopes to present it to President Donald Trump, who has obtained massive support from cryptographic investors with their latest decisions in terms of regulation and innovation.
The clarity law aims to protect consumers ordering that digital asset developers and customer -oriented companies provide essential disseminations to their customers. It also requires that these companies maintain the funds of the customers separated from theirs, addressing possible conflicts of interest that could arise.
According to a summary Launched by the Chamber Financial Services Committee, these provisions are designed to promote a safer environment for consumers involved with digital assets.
In addition, the legislation aims to facilitate the growth of digital asset projects by providing developers with a clear route to ensure funds under the supervision of the Bag and Securities Commission (SEC).
This clarity will allow market participants. digital products through intermediaries and exchanges regulated by the Basic Products Future Commission (CFTC).
SEC and CFTC roles in the regulation of digital assets
One of the key characteristics of the bill is its intention to delineate the responsibilities between the SEC and the CFTC. By establishing different registration regimes, the clarity law will allow customer to guide Digital Assets Companies To legally operate, ensuring consumers that are involved with properly regulated entities.
The introduction of the clarity law follows a bipartisan hearing on digital assets that took place about three weeks before. This audience aimed to discuss a draft of discussion of digital asset market structure, but became controversial when several Democratic legislators went out in protest of issues related to the participation of the Trump administration in the cryptocurrency.
The representative Maxine Waters (D-CA), a classification member of the Chamber Financial Services Committee, criticized the introduction of the bill, noting that it occurred after Hill declined to include provisions that would restrict Trump to financially benefit from cryptocurrency companies.
Earlier testimony Of the lawyers and executives of the industry during an audience on April 9, highlighted the need for adjustments to the existing securities laws to better accommodate the unique characteristics of digital assets.
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