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At its core, the Clarity Act assigns the CFTC exclusive regulatory authority over digital commodity spot markets. As part of the proposed framework, crypto platforms will have the option to register either with the CFTC or SEC, contingent on whether they deal with digital commodities, securities, or both. This delineation is expected to bring much-needed clarity not just to regulators, but also to entrepreneurs and investors grappling with the current chaotic regulatory environment.
Consumer Protection and Regulatory Oversight
A pivotal component of the Clarity Act is its focus on consumer protection. It articulates clear requirements for how digital asset firms disclose information and manage compliance, such as:
Detailed project disclosures
Segregation of customer funds