For a decade, no one could say whether a crypto token answered to the SEC or the CFTC, and the uncertainty defined the industry. The CLARITY Act is the bill written to settle that question. Here is what it does, how it works, where it stands, and what it would mean for you, in plain English.
Summary
- The CLARITY Act would classify digital assets into commodities, investment contract assets, and payment stablecoins, each with a defined regulatory framework.
- Crypto projects could transition from SEC oversight to CFTC oversight once their networks reach a defined level of decentralization and utility.
- The bill would require customer fund segregation, conflict disclosures, and…
