The encryption industry calls on the U.S. House of Representatives to pass the CLARITY Act as soon as possible to clarify the regulatory framework.

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On July 8, the Blockchain Rhythm, a certain encryption lobbying group, along with several encryption companies, urged members of the U.S. House of Representatives to pass the CLARITY Act as soon as possible during next week's meeting to clarify the regulatory framework for the encryption industry.

In a joint letter issued this Monday, the Stand With Crypto coalition, along with 65 cryptocurrency advocacy organizations and companies, urged lawmakers to support the CLARITY Act (Digital Asset Market Clear Act). The letter stated: "We know that some are trying to politicize cryptocurrency legislation, but encryption technology is profoundly reshaping the global economy. If the U.S. does not quickly implement friendly policies to support Block technology, it risks falling behind other countries."

The CLARITY Act clarifies the division of responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in cryptocurrency regulation. The act grants most of the regulatory authority over the cryptocurrency market to the CFTC, while cryptocurrency products related to securities are regulated by the SEC.

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StableBoivip
· 07-10 19:03
The SEC has gone crazy again, right?
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SatoshiNotNakamotovip
· 07-08 04:36
The SEC is really looking down on us, isn't it?
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LayoffMinervip
· 07-08 04:34
Finally, there is regulation after a long wait.
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MevHuntervip
· 07-08 04:33
Too much oversight is annoying to watch.
View OriginalReply0
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