US Congress has proposed legislation to regulate crypto assets — The Cryptocurrency Press

According to The Cryptocurrency Press, the US Congress is reviewing the new CLARITY Act, designed to eliminate legal ambiguities in cryptocurrency regulation. The bill clearly delineates oversight authority between the sector’s two primary regulators: the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

The bill’s authors argue that clearly defined regulatory responsibilities will establish a safe framework for digital economy growth. French Hill, Chair of the Congressional Financial Services Subcommittee, emphasized the legislation would provide much-needed regulatory clarity while safeguarding consumer interests.

The Cryptocurrency Press notes that the law’s passage could reshape the market structure. For instance, Ethereum protocols and decentralized finance (DeFi) projects may fall under CFTC oversight. Well-defined rules are expected to boost market confidence and accelerate innovation. Experts anticipate the law will strike a balance between investor protection and support for technological advancement in the crypto industry.