Congress Introduces CLARITY Act to Reshape Crypto Regulation

U.S. lawmakers have formally proposed the Digital Asset Market Clarity (CLARITY) Act, a landmark bill that WOULD strip the SEC of oversight over most cryptocurrencies. The legislation reclassifies digital assets as "digital commodities" under CFTC jurisdiction, marking a pivotal shift toward lighter-touch regulation.

The MOVE follows years of industry complaints about the SEC’s aggressive enforcement approach. By amending foundational securities laws, the bill creates a clear path to legal recognition for cryptocurrencies while maintaining consumer protections. "This secures American dominance in financial innovation," said Rep. Bryan Steil, emphasizing the bill’s potential to attract blockchain development to U.S. soil.

Market participants anticipate reduced regulatory uncertainty could spur institutional adoption. The CFTC’s historically hands-off stance contrasts sharply with the SEC’s rigorous compliance demands, potentially accelerating mainstream crypto integration.