Coinbase executive: US Democrats have added consumer protection rules to the CLARITY Act

PANews July 21, citing Cointelegraph, reported that Coinbase vice chairman Ryan VanGrack said that U.S. Democratic lawmakers have added provisions on customer protection to the digital asset market structure bill, the “CLARITY Act,” currently being considered in the Senate. These added provisions are intended to ensure that digital asset trading platforms better protect consumers’ rights during operations, including strengthening transparency requirements, preventing fraudulent activities, and ensuring the safety of customer funds. He added that these consumer protection measures are the result of bipartisan cooperation, reflecting legislators’ growing attention to the digital asset market.

At present, the bill is still under consideration in the Senate and has not yet reached the final voting stage. VanGrack made the remarks during a public discussion on digital asset regulation, emphasizing that Coinbase supports establishing a balanced regulatory framework that both promotes innovation and protects investors.