Summary
Coinbase Vice Chairman Ryan VanGrack stated that the Digital Asset Market Clarity Act (CLARITY Act) has entered its final stage, with Democrats pushing for stronger consumer protection clauses and granting the bill more enforcement power. A revised draft is expected in mid-July, with a possible ful…
Key points
- Signals major progress in US crypto market structure legislation, impacting exchange operations, customer asset protection, and inter-agency jurisdiction.
- If passed, the CLARITY Act would end the long-standing jurisdictional ambiguity between the SEC and CFTC and provide bankruptcy protection for digital asset holders.
- Exchanges and digital asset businesses would gain clear registration and compliance paths, lowering compliance costs, and enabling customers to recover assets faster in the event of platform bankruptcy.
Editorial note
This page is Code & Chain's editorial summary of public sources. It may be prepared with AI assistance and published through an automated workflow. Refer to the original sources; this content is not investment, legal, or tax advice.