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The Senate Banking Committee advanced H.R. 3633 on May 14 by a 15-9 vote.
The CLARITY Act would shift primary crypto spot-market oversight from the SEC to the CFTC.
KEY POINTS
- CFTC payroll workforce dropped by over 21% from FY2024 to FY2025, raising capacity concerns.
- The bill authorizes new fees and expedited hiring, but resources depend on annual congressional appropriations.
- CFTC must create new registrant categories and rules within a tight 270-360 day timeline post-enactment.
- Current CFTC enforcement staffing would remain below pre-expansion levels, despite expanded crypto jurisdiction.
COMPANIES
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