US Senate Banking Committee to release revised draft of digital asset bill

The U.S. Senate Banking Committee plans to release a revised draft of the Digital Asset Market Clarity (CLARITY) Act later today after incorporating feedback, according to Eleanor Terrett, host of Crypto in America. The CLARITY Act aims to establish a regulatory framework for the cryptocurrency industry by delineating the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). A key provision of the bill would exempt cryptocurrencies that meet certain conditions from the registration requirements of the Securities Act of 1933.