Senate Banking Committee Advances Clarity Act, CFTC as Primary Crypto Regulator
The US Senate Banking Committee advanced the Clarity Act, which would designate the Commodity Futures Trading Commission (CFTC) as the primary federal regulator for most digital assets, with the SEC retaining oversight of digital securities. The bill's advance marks the most significant US crypto regulatory progress in years. Bitcoin was trading above $80,000 during the vote, as broader policy clarity fueled market optimism.
Why It Matters
Clear regulatory jurisdiction resolves the decade-long SEC vs. CFTC ambiguity that has blocked institutional US crypto allocation. If enacted, the Clarity Act would unlock compliance pathways that have kept major financial institutions at arm's length from digital assets.