The Digital Asset Market Clarity Act update

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company. The Digital Asset Market Clarity Act (H.R. 3633) a major U.S. digital asset legislative proposal that divides regulatory power between the SEC and CFTC, while sparking intense debates over privacy, developer liability, and anti-money laundering (AML) enforcement has been effectively shelved in the U.S. Senate ahead of the August recess, until September delayed by a crowded legislative agenda, alongside opposition from a bloc of Democratic senators over ethics terms. Summary The Senate delayed action on the Digital Asset Market Clarity Act until September after disagreements over ethics rules and a packed legislative calendar. The updated bill would split crypto oversight between the SEC and CFTC while adding new ethics restrictions for federal officials and stablecoin enforcement powers. Banking groups warned the proposal leaves anti money laundering gaps for DeFi platforms and transaction mixers, while several major financial firms backed the le...