March 4 News: The legislative process for the U.S. digital asset regulatory framework has heated up again. Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), recently publicly called on Congress to pass the CLARITY Act as soon as possible, believing that this bill is an important foundation for building the future digital asset market structure and clarifying the regulatory responsibilities of cryptocurrencies.
Michael Selig posted on social media that the U.S. must quickly establish a forward-looking digital asset regulatory system, and the CLARITY Act is a key step in achieving this goal. He emphasized that the CFTC is ready to implement the relevant market structure framework under the current administration and believes that this bill will help the U.S. maintain a leading position in global crypto finance competition.
Former President Trump also publicly supported the bill and urged Congress to accelerate the legislative process. Trump stated that the banking industry and the crypto sector in the U.S. need to reach certain compromises on regulatory rules to facilitate the bill’s final passage. He believes that a comprehensive digital asset regulatory system will help solidify America’s advantages in blockchain innovation.
Despite some policy support, the CLARITY Act still faces significant disagreements at the legislative level. One of the contentious issues centers on stablecoin yield mechanisms. Some banking institutions worry that stablecoin yield plans could disrupt the traditional deposit system, while industry insiders believe that such mechanisms are important for promoting blockchain financial innovation and capital efficiency.
Meanwhile, some representatives from the crypto industry have also criticized the current version of the bill. Charles Hoskinson, founder of Cardano, stated that the current draft might classify most digital assets as securities, which could give regulators more scope for enforcement and create uncertainty for industry development. He called on lawmakers to adjust relevant provisions to ensure that technological innovation is not overly restricted by regulation.
Currently, the U.S. Congress is expected to revisit digital asset legislation this month. Although the initial deadline in early March has passed, the industry remains focused on whether the next round of discussions can make substantive progress on the regulatory framework. As countries around the world accelerate the development of crypto asset rules, the direction of U.S. digital asset legislation has become a key focus for the market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SEC Announcement: Four Major Digital Assets Exempt from Securities Law Regulation! Ending Ten Years of Crypto Regulatory Ambiguity
The U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced that four categories of digital assets will no longer be regulated under securities laws, including digital commodities, digital collectibles, digital utilities, and payment stablecoins compliant with the Genius Act, ending a decade of regulatory ambiguity. This move is expected to facilitate the development of the crypto market and allow the SEC to focus on protecting the interests of traditional securities investors.
ChainNewsAbmedia8m ago
Coin Center: SEC No-Action Letters Favor Wealthy Insiders, Need Comprehensive Rulemaking
Coin Center sent a letter to the SEC, calling for an end to no-action letter case-by-case processing and urging stronger systemic rulemaking for the crypto market. The letter emphasized that no-action letters favor well-resourced large projects, resulting in regulatory fragmentation and industry inequality, while contradicting the nature of crypto public goods. The U.S. Congress is also advancing the CLARITY Act to provide a clear digital asset jurisdiction framework and promote unified regulation.
MarketWhisper28m ago
TRUMP Coin Holders Rush to Trump's Mar-a-Lago Luncheon! Analysts: Beware of Post-Hype Pullback
Trump will host a luncheon on April 25th at his Mar-a-Lago estate in Florida, inviting top TRUMP token holders, causing the token's price to surge. The hype pattern before the event indicates that the token may decline after the event, with historical data supporting this view. Additionally, Congress is reviewing three bills to restrict politicians from profiting through meme coins, but they have not yet entered the voting stage.
MarketWhisper39m ago
ShapeShift Founder: US SEC's New Guidance Acknowledges Limits of Authority, Strict Regulation Previously Stifled Utility Token Innovation
Gate News: On March 18, ShapeShift founder Erik Voorhees made public comments regarding the SEC's explanatory guidance on crypto assets, believing the significance of this guidance lies in the SEC acknowledging its own power boundaries. Erik Voorhees contrasted Gensler's tenure's large-scale enforcement actions against utility tokens, pointing out that these actions significantly decreased entrepreneurs' willingness to design utility tokens at that time, instead catalyzing the emergence of a large number of
GateNews41m ago
SEC Proposes to End Cryptocurrency Regulatory Gray Area! Chairman Paul Atkins Pushes "Safe Harbor" and New Fundraising Exemption Rules
U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said on Tuesday that the SEC is pushing forward with a new regulatory framework for crypto assets, aiming to end years of market dispute over "which crypto assets are securities" and provide a clearer compliance path for crypto businesses to raise capital and operate in the United States through token classification, investment contract interpretation, and "safe harbor" arrangements.
During his speech at the "DC Blockchain Summit" held in Washington on Tuesday, Atkins pointed out that the SEC is implementing a token classification and investment contract interpretation framework that clearly categorizes digital commodities, digital collectibles, digital tools, and those compliant with the GENIUS
区块客48m ago
