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Consumer protection + space for innovation, this time the United States has finally realized that it can't choose one over the other.
Translation | Jiahui, ChainCatcher
The Senate Banking Committee has just voted to advance cryptocurrency "market structure" legislation (i.e., legislation regarding market division, regulatory responsibilities, and trading rules) through bipartisan cooperation, marking a historic moment for the crypto industry.
Why is this happening? Because the Digital Asset Market CLARITY Act will finally establish clear rules for blockchain networks and digital assets.
Over the past decade, the United States has lacked clear regulation, leading to market distortions, suppressed innovation, and exposing consumers to significant risks. CLARITY will end this situation.
The Securities Act of 1933 established investor protection mechanisms, supporting a century of capital formation and innovation in the United States. The significance of CLARITY is similar — — in the landscape of U.S. financial regulation, this is a once-in-a-lifetime