Senate Majority Leader John Thune (R-S.D.) took a procedural step Saturday to bring the CLARITY Act to the Senate floor, setting up a vote on whether to consider the bill when lawmakers return from their August recess.
The CLARITY Act would establish a federal regulatory framework for cryptocurrency and other digital assets, spelling out how the industry would be regulated and which federal agencies would have authority over different types of assets.
The legislation would divide oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission, creating a distinction between digital assets that are considered securities and those treated as commodities. Supporters say the change would replace what they describe as the SEC’s previous “regulation-by-enforcement” approach with clearer rules for the industry. …
Senate Moves Major Crypto Regulation Bill Toward Vote
