US Senate Banking Committee Clarifies Seven Misunderstandings of CLARITY Act

The US Senate Banking Committee interprets and clarifies the seven major misconceptions of the CLARITY Act, emphasizing that it does not deviate from existing securities laws, clarifies the classification of digital assets, and provides investor protection. The bill adopts measures such as dividing the regulatory powers of the SEC and CFTC, establishing a joint advisory committee, strengthening anti money laundering and counter-terrorism financing obligations, and accurately combating illegal activities to prevent fraud and abuse, while protecting the self hosting rights of software developers and users, promoting compliance innovation, and strengthening national security.