Crypto advocacy group Stand With Crypto urges U.S. House to pass the Digital Asset Market Structure Clarity Act

According to ChainCatcher, as reported by MetaEra, the crypto advocacy group Stand With Crypto, together with 65 organizations, is urging U.S. lawmakers to support the Clarity for Digital Assets Markets Act (Clarity Act). This bill aims to establish a clear regulatory framework for the crypto industry, clarify the division of oversight between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and require digital asset companies to provide customer disclosures and segregate client funds. The bill is expected to enter the review process next week.

In addition, Senate Banking Committee Chairman Tim Scott and Senator Cynthia Lummis released related legislative principles last month, and a digital assets hearing will be held on Wednesday. The letter specifically highlights the urgency of legislation, noting that the U.S. must establish a regulatory framework by the end of September to avoid falling behind in global competition.