Post #24271

US Senators Unveil Updated CLARITY Act to Regulate Crypto Market The bill introduces legal definitions for blockchain, DeFi, DAO, and smart contracts. It sets rules for digital commodity exchanges, brokers, and dealers, covering capital, compliance, and internal controls. The bill includes client fund segregation, conflict-of-interest management, and transparency standards. It protects users’ right to self-custody and sets wallet provider requirements. The CFTC and SEC must jointly define overlapping jurisdictions. The bill creates new CFTC funding and a “Retail Investor Advocate” for the digital spot market. https://www.agriculture.senate.gov/imo/media/doc/bipartisan_market_structure_discussion_draft.pdf