Lawmakers advance crypto market structure bill amid fears over decentralisation ‘loophole’ – DL News
- Two House committees voted to advance the Clarity Act on Tuesday.
- Democrats worry there’s a loophole in a so-called maturity test.
- Organisations that are certified as sufficiently mature, or decentralised, will enjoy fewer regulatory burdens, according to the bill.
Lawmakers advanced landmark crypto legislation on Tuesday during a pair of hearings. The bill, called the Clarity Act, would largely hand oversight of the crypto industry to the Commodity Futures Trading Commission.
But Democrats warned regulators could find themselves overwhelmed by a flood of crypto businesses seeking more favourable regulatory treatment by making false promises to decentralise their ownership and operations — what many in the crypto industry call…
