news 
U.S. Senate Begins Work on Its Own Version of the CLARITY Act
The U.S. Senate has started drafting its own version of the CLARITY Act, aiming to regulate cryptocurrency markets with a focus on transparency and investor protection. This development comes as a significant step towards creating a comprehensive market structure for digital assets.
According to recent information, the Senate Banking Subcommittee will hold a hearing on June 24 to initiate formal discussions on the proposed bill. The objective of this new legislation is to establish clear definitions and classifications for various types of digital assets, including frameworks for registration, disclosure, and market conduct.
As part of this process, senators are engaging in meetings with regulatory bodies and industry stakeholders to finalize provisions for the discussion draft. This ensures that all necessary measures are taken to address current gaps in federal oversight of digital assets, such as risks from noncompliant exchanges and unregistered offerings.
Senator Tim Scott has expressed support for moving forward with a full committee hearing by next month. The Senate committee aims to allow public and expert input on the bill’s contents, which will guide the final language of the legislation.
Source: coincentral.com
