Crypto Regulatory Clarity Looms as CLARITY Act Faces Critical Markup
The Digital Asset Market Clarity Act (CLARITY Act) enters a pivotal phase as Senate negotiators rewrite key provisions. The bill aims to resolve jurisdictional conflicts between the SEC and CFTC, but Coinbase's opposition has delayed committee action. Preemption of state regulations remains a flashpoint.
At stake is whether crypto rewards programs—common across exchanges like Binance, Coinbase, and Bybit—will survive new compliance burdens. The legislation could reshape how platforms like Kraken and Bitget offer staking yields for assets from ETH to SOL.
DeFi protocols face particular scrutiny. The draft bill's treatment of governance tokens like UNI and SUSHI may determine whether algorithmic rewards constitute securities offerings. Meanwhile, memecoins like DOGE and SHIB exist in regulatory limbo.
