US House passes CLARITY Act, advancing landmark crypto bill to the Senate

The US House of Representatives has passed the CLARITY Act, a landmark bill aimed at regulating digital assets. The bill, which passed with a 294-134 vote, seeks to clarify jurisdictional boundaries between the SEC and CFTC in regulating crypto assets.

Key provisions include standardized registration requirements, disclosure obligations, and investor protection mechanisms.

The bill now heads to the Senate, where its future is uncertain due to concerns about scope, industry conflicts of interest, and agency balance of power.