New CLARITY Act Aims to Clarify Cryptocurrency Regulations in US

The cryptocurrency industry has long been plagued by unclear regulations, but a new bill may be changing that.

The Digital Asset Market Clarity Act, or CLARITY Act, is a proposed legislation that aims to create a regulatory framework for cryptocurrencies and digital assets in the United States.

Under this framework, the Securities and Exchange Commission (SEC) would oversee digital assets that function like securities or investment contracts, while the Commodity Futures Trading Commission (CFTC) would regulate digital commodities, including decentralized cryptocurrencies.