The US Senate Banking Committee clarifies the 7 major misconceptions of the CLARITY Act: not deviating from securities laws, emphasizing investor protection and regulatory boundaries Odaily Planet Daily News: The US Senate Banking Committee has published an article interpreting and clarifying the seven major misconceptions of the CLARITY Act, mainly including: 1. It does not deviate from existing securities laws, but based on mature securities law principles, clarifies which digital assets belong to securities and which belong to commodities. 2. This bill is essentially an investor protection bill that aims to prevent the recurrence of FTX style risk events by clearly defining rules to combat fraud, manipulation, and abuse. 3. By clearly defining the regulatory powers of the SEC and CFTC, establishing a joint advisory committee to coordinate rules, filling regulatory gaps, and introducing targeted anti circumvention clauses to reduce arbitrage opportunities. 4. Require key intermediaries to fulfill their anti money laundering and counter-terrorism financing obligations, and strengthen sanctions compliance and enforcement authorization from the Ministry of Finance. 5. We have not allowed DeFi to become an illegal funding channel, emphasizing the need to "accurately crack down on illegal behavior". We require centralized intermediaries that interact with DeFi protocols to implement risk management standards, and at the same time, establish specialized rules for intermediaries that are not truly decentralized to protect the code and innovation itself. 6. Clearly protect the self hosting rights of software developers and users, and do not consider developers who do not control user funds and only publish or maintain code as financial intermediaries, while retaining the ability of regulatory agencies to intervene in real risks. 7. The core goal is to strengthen national security, protect investors, and promote compliance innovation under clear rules, rather than being tailored to specific industries.