You can’t demand compliance while refusing to explain what compliance requires. @milesjennings on why the CLARITY Act matters: “For the entire time that the industry has existed, it’s been very unclear whether or not digital assets have been subject to securities laws, how those securities laws apply, and how entrepreneurs can comply.” The bill creates a tailored framework for digital assets, draws jurisdictional lines between the SEC and CFTC, establishes guardrails for exchanges, and protects entrepreneurs from being unfairly targeted. “It’s targeting the key areas of uncertainty that have plagued the space for a long time, and really impeded innovation.” @MTSlive(a16z crypto)