The US Senate has moved to advance a major bill that would create a regulatory framework for cryptocurrencies. The Clarity Act, if passed, would mark a huge victory for the crypto industry and US President Donald Trump. Senate Majority Leader John Thune filed to set up a key procedural vote on the bill when the Senate returns from its August recess in mid-September.
Crypto Industry Support
The crypto industry has been pushing for the bill, which would provide legal clarity and potentially boost the adoption of cryptocurrencies. The legislation would define when digital tokens are securities or commodities and which regulators oversee them.
The passage of the Clarity Act would also hand Trump a second major crypto policy win after he signed a bill supporting dollar-backed tokens known as stablecoins into law last year. Democrats have expressed concerns about the bill, citing the need for more restrictions on government officials’ crypto ventures.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
