US Digital-Asset Industry Seeks Clarity with CLARITY Act

The US digital-asset market has been plagued by regulatory ambiguity, causing uncertainty for companies and consumers alike. To address this issue, the CLARITY Act proposes clarifying the division of oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Senator Cynthia Lummis, a key proponent of the bill, believes that establishing clear regulatory standards will support industry growth and protect consumers. The CLARITY Act aims to provide a formal framework for regulation, which could bring the US digital-asset market into the mainstream.

However, the passage of the bill is not without challenges. Senate consideration may be delayed due to ongoing debates over other major legislation, including the US budget bill. This uncertainty has led some to predict that the crypto market may see a gradual recovery if progress continues in the Senate, but a prolonged period of sideways movement if it stalls.