The US "CLARITY Act" has been passed, marking a significant breakthrough in the regulatory framework for digital assets.

Crypto Assets Regulatory New Framework: Analyzing the Digital Asset Market CLARITY Act

Recently, the U.S. House of Representatives passed the "Digital Asset Market CLARITY Act" by an overwhelming majority, establishing a clear regulatory framework for the digital asset market. This bill is expected to become landmark legislation, akin to the impact of the 1933 "Securities Act" on the U.S. capital markets.

The bill aims to end the long-standing regulatory uncertainty that hinders innovation and harms consumer interests. It sets clear "rules of the game" for blockchain systems, which is expected to help the United States maintain its leading position in this field while benefiting the world.

Core Content of the Bill

  1. Create a clear regulatory path for digital assets.
  2. Achieve effective supervision of blockchain-based intermediaries
  3. Protect consumers with strong safeguards while promoting innovation.
  4. Transition the regulatory authority of digital assets from the SEC to the CFTC

a16z: How does the CLARITY Act create a regulatory framework for Crypto Assets?

Impact on the Blockchain Industry

The bill adopts a "control-based" maturity framework to determine whether a blockchain system is decentralized through objectively measurable standards. This will provide a clear compliance pathway for legitimate projects while preventing bad actors from exploiting legal ambiguities.

The legislation provides important protections for the DeFi industry. It exempts DeFi protocols from the regulatory requirements imposed on intermediaries, providing necessary legal clarity for DeFi projects.

Comparison with Existing Systems

The "CLARITY Act" has the following improvements compared to the current situation:

  • Filled the regulatory gap
  • Increased industry transparency
  • Enhanced consumer protection
  • Established decentralized standards

Relationship with the "GENIUS Act"

The recently passed "GENIUS Act" will promote the widespread adoption of stablecoins. The "CLARITY Act" provides the necessary standards and oversight for the underlying infrastructure supporting stablecoins, creating a complementary relationship between the two.

Follow-up Progress

The bill has now entered the Senate review stage. The Senate may propose its own version, which will then be coordinated with the House version. Congressional leaders aim to send the final version to the president for signing by the end of September.

If this bill is ultimately passed, it will bring a clearer regulatory environment to the digital asset industry, promoting innovation while protecting consumer interests, and is expected to drive further development and application of blockchain technology.

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SoliditySlayervip
· 08-06 12:33
Goodness, finally awake.
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SighingCashiervip
· 08-05 20:12
Regulation is getting stricter, yet I want to be the boss.
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DeFiDoctorvip
· 08-05 20:05
The patient's recent liquidity indicators have stabilized; it is recommended to track and recheck weekly.
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SelfStakingvip
· 08-05 10:02
Enter a position enter a position bull run is ready to start!
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DegenWhisperervip
· 08-05 10:00
The bull run is promising, cheers!
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TokenDustCollectorvip
· 08-05 09:57
Regulating means that the bull run is coming soon.
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NotGonnaMakeItvip
· 08-05 09:57
Another empty promise? Uh-huh.
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DataOnlookervip
· 08-05 09:44
Can't repay, time to Rug Pull.
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