A bipartisan bill called the Clarity Act was presented to the US House of Representatives, and proposed a regulatory reclassification of several cryptocurrencies, including XRP, Dogecoin (Doge), and Ether (ETH).
Legislative proposals to begin passing by the US Congress; We propose that cryptocurrencies are classified Digital products Or, in Spanish, they said “digital product.” Additionally, he forwarded the supervision, which previously under the mantle of the Bags and Securities Commission (SEC), to the Basic Product Negotiation Committee (CFTC).
The initiative presented by the Chamber of Commerce Financial Services and Agriculture Committee on Thursday, Trying to establish a clear regulatory framework for digital assets The country, a priority issue in Washington, has filled the uncertainty cycle that has been ongoing for the industry for years.
According to current texts in the Clarity Act, the new category of digital products covers “all tokens linked to the blockchain and used to transfer value.”
This reduces the likelihood that the SEC will classify cryptocurrencies as securities (value). Additionally, it will introduce the specification of the “Maduro Blockchain System” option in decentralized projects, such as Bitcoin, which is open source and does not have a dominant control entity.
Legislative initiatives also propose explicit protection A self-ocustodial rights wallet That digital assetpromotes Bitcoin users to maintain private key management and assets management without relying on a central intermediary. This enhances financial autonomy and reduces the risk that users will need to manage third parties.
The bipartisan nature of the initiative is remarkable and supported by the Republican and democratic Copatrocinador. Among them are GT Thompson, chairman of the Agriculture Committee, and the majority leaders of Tommer’s representatives, as well as representatives Angie Craig, Richie Torres and Don Davis.
“Our bill contributes a much-anticipated clarity to the digital asset ecosystem and prioritizes protecting and innovation for US consumers,” said Hill, France, the bill’s main supporter.
The initiative is based on previous legislative efforts, including approvals reported by the FIT21 Act cryptography law in the House, despite the fact that it faced obstacles and lost strength in the Senate last year in the Democratic-controlled Senate.
Although it was not promulgated, such a proposal infused the optimism of the time, as it had bipartisan support. Later, relying on it, the Financial Services and Agriculture Commission held roundtables with viewers in April and May to actively tackle the issue to discuss key principles of regulation.
Currently, the Chamber of Commerce and Industry Financial Services Committee There is a schedule Hearing about the new text of the law on June 4tha review audience is planned for June 10th, marking the next step along the way for this potentially transformative legislation in the US cryptocurrency sector. With this law, the country is trying to lead a revolution in digital assets and promote an innovative environment for the future of finance.