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The U.S. Senate Banking Committee has introduced a discussion draft on the "CLARITY Act," proposing the concept of "Covered Assets."
BlockBeats News, July 27th, the U.S. Senate Banking Committee has introduced a discussion draft on the "CLARITY Act" (Market Structure Act), proposing the concept of "Digital Asset" to clarify the specific meaning of digital asset concept and seek clarity on how the U.S. Securities and Exchange Commission (SEC) should regulate digital assets, inviting public comments on the draft by early August.
Last week, the House of Representatives voted to pass the "CLARITY Act," still awaiting approval by the Senate and submission to President Trump for signature. The White House Crypto Czar stated last week that Trump would continue to support the passage of the "CLARITY Act," fulfilling his campaign commitment to the crypto space. This week, the Senate Banking Committee clarified its focus: on the role of the SEC in crypto market regulation. Rashan Colbert, U.S. Policy Director of the Crypto Council for Innovation, stated that the Senate's legislative process may differ from the House's passage of the "CLARITY Act," but he expects the Agriculture Committee and the Banking Committee to ultimately coordinate on market structure legislation. Regardless of which bill is passed, as the Senate requires 60 votes to approve a bill, the opinions of Democrats are crucial.
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