US Senate Launches Bipartisan Follow-Up to CLARITY Act

The US Senate Agriculture Committee has released a draft of a comprehensive, bipartisan bill designed to regulate the digital asset market, serving as a follow-up to the House's CLARITY Act. The core of the legislation establishes a supervisory framework centered on the Commodity Futures Trading Commission (CFTC), granting it regulatory authority over the digital commodity spot market and defining digital commodities. Key provisions include robust customer safeguards, protection for self-custody, and mandated coordination between the CFTC and the SEC to resolve jurisdiction fights. While there is bipartisan consensus on the core structure, divisions remain regarding detailed provisions, enforcement resources, and ethics concerns, which Senator Cory Booker acknowledged must still be addressed. Industry experts view the draft positively but note it falls short on key issues like DeFi and specific self-custody protections.

(Source：BeInCrypto)