U.S. Clarity Act Amendments to Begin Review on January 15, Anticipation for Cryptocurrency Regulation Progress

The U.S. Senate Banking Committee is scheduled to start the amendment review of the Digital Asset Market Clarity Act (Clarity Act) on January 15, with high expectations from both within and outside the industry for the enactment of this long-awaited cryptocurrency regulation law.

The Clarity Act aims to establish clear criteria for classifying cryptocurrencies as either 'securities' or 'commodities', and to clarify the supervisory responsibilities of regulatory bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Building on the foundation of last year's enacted Stablecoin Regulation Law, the Genius Act, the Clarity Act seeks to define stablecoins separately from securities and commodities, aiming to establish a joint supervision system. Furthermore, exchanges...