There has been movement forward on the Clarity Act, and the SEC and CFTC have anticipated its passage by pre-emptively completing a “memorandum of understanding” that would be required by the Act, and by beginning the “rulemaking” process with a joint interpretive release distinguishing between “investment contract assets” regulated by the SEC and “digital commodities”
Clarity Act
Two-lane Highway Takes Shape for U.S. Crypto Regulation: Digital Securities Regulation by SEC, “Digital Commodities” Regulated By CFTC
By Frank Zarb, Louis Rambo & Wai Choy on
The new Administration has a clear mandate to provide a securities regulatory pathway for crypto, but it had been unclear whether the SEC would take the initiative in building a framework for crypto regulation, or whether legislation making its way through Congress would steal the momentum. What is taking shape is a blend of the…