web3 / news / / The Economic Times
The Republican-led Senate Banking Committee on Thursday advanced a long-awaited cryptocurrency regulation bill.
The CLARITY Act advances to the full Senate after passing the Banking Committee with bipartisan support.
KEY POINTS
- The act places digital commodities under CFTC and digital securities under SEC jurisdiction, clarifying oversight.
- The bill sets clear criteria to determine if crypto platforms are sufficiently decentralised or must act as financial institutions.
- President Trump openly backs the CLARITY Act, prioritising crypto reform in his second term.
- Crypto industry lobbying for the bill exceeded $119 million during the 2024 US elections.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →