A key U.S. Senate committee has moved forward with consideration of major cryptocurrency legislation aimed at defining regulatory authority over digital assets, marking another step in efforts to establish a federal framework for the sector. The session centered on the CLARITY Act, which is designed to set out how digital assets are classified and which regulators oversee different parts of the market.
There, lawmakers examined provisions addressing oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The review also included multiple proposed amendments focused on disclosure standards, enforcement scope, and compliance obligations for crypto platforms and token issuers, Reuters reported.
