1 month ago
US Lawmakers Urge Senate to Pass Crypto Bill
Some important people in the US government are asking the Senate to pass a new law called the CLARITY Act.
This law is about how to handle digital money, like cryptocurrency.
They want clear rules so that people who invest in digital money are protected.
They also want to make sure that companies dealing with digital money stay in the US instead of moving to other countries.
Right now, the rules are not very clear, and this makes it hard for companies to know what they can and cannot do.
Some companies have even had to deal with lawsuits because of this confusion.
The people who are asking for this new law think it will help the US stay a leader in digital money and technology.
US lawmakers urge the Senate to pass the CLARITY Act for digital asset regulation.
The bill aims to divide oversight between the SEC and CFTC.
Lawmakers argue clear rules are needed to protect investors and bring crypto businesses back to the US.
Industry witnesses testify that regulatory uncertainty has pushed investment and innovation overseas.
The CLARITY Act seeks to establish jurisdiction for digital assets and protect software developers.
- Who
- US lawmakers, House Financial Services Subcommittee, Bryan Steil, French Hill, Randi Abernethy, Sarah Aberg, Ryan Louvar
- What
- Urging the Senate to pass the CLARITY Act for digital asset regulation
- Where
- Federal Hall, New York
- When
- Not specified
- Why
- To protect investors, bring crypto businesses back to the US, and preserve American leadership in financial technology
Key facts
- Bill Name
- CLARITY Act
- House Vote
- 294-134
- Regulatory Bodies
- SEC, CFTC
- Company Example
- Bullish
- Company Example
- Nova Labs
- Company Example
- WisdomTree
Quotes
Bryan Steil
Subcommittee chairman
“The question is no longer whether finance will become more digital. It will. The question is whether the United States will continue to lead in developing the next generation of financial infrastructure.”
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“This is President Trump’s goal. We stand ready to help our Senate colleagues complete the work and get it to the president’s desk.”
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Randi Abernethy
Head of clearing and group risk at Bullish
“We are not asking to operate in the shadows. We are asking for a rule book, and we intend to build under it.”
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“Regulatory clarity is not a favour to industry. It is how Congress brings this activity onshore under American regulators with American investor protections.”
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