Us House adopts Bitcoin, Crypto Market Structure Bill the Clarity Act

“The Clarity Act helps us to get there by adding consumer protection and by establishing clear guidelines for digital asset managers,” said the John Rose congress member. “He also establishes railings for federal agencies, which have too often left their statutory authority in recent years, in particular with the cryptocurrency. The bill offers modern solutions to a modern financial sector which is gaining popularity and relevance on time. ”

The legislation aims to define and divide regulatory monitoring between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), establishing clear rules in a market for complex digital assets. The final vote of the House is now over, the bill will spend the Senate for a new consideration.

“This bill helps to establish a solid and pro-growth framework which gives certainty to innovators who will bring digital assets to the United States,” said the member of the Addison McDowell Congress. “A key step to make America the world capital of cryptography.”

If it is adopted by the Senate, the Clarity Act would mark an important step in the approach of the federal government in the regulation of bitcoin and cryptography, which aims to support innovation while addressing the regulatory uncertainty that has long challenged industry.

“Currently, there is no market structure established to protect consumers or provide clear road rules to businesses and innovators,” said Congress Don Davis. “It’s the Wild and Wild West!” The congress must provide legislation on the structure of the market which provides clarity. Millions of Americans hold cryptocurrencies, use it in financial transactions or use other digital tokens as part of new innovative technologies and services. There must be consumer protections, and the United States must lead. ”