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Clarity Act stokes debate on crypto

Clarity Act stokes debate on crypto

Even after lawmakers approved a regulatory framework for stablecoins, their interest in laws overseeing cryptocurrencies has not ebbed. 

Months after the signing of the Genius Act in July, which set ground rules for issuance and use of stablecoins, lawmakers are considering the Clarity Act, which sets market structure for digital assets. 

The Guiding and Establishing National Innovation for U.S. Stablecoins (Genius) Act “makes stablecoins an approved payment mechanism in the U.S.,” said Roy Ben-Hur, digital assets financial services leader for Deloitte.

However, the Digital Asset Market Clarity Act — or simply just Clarity Act — “draws some lines on when a token is…

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