March 4 News: The legislative process for the U.S. digital asset regulatory framework has heated up again. Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), recently publicly called on Congress to pass the CLARITY Act as soon as possible, believing that this bill is an important foundation for building the future digital asset market structure and clarifying the regulatory responsibilities of cryptocurrencies.
Michael Selig posted on social media that the U.S. must quickly establish a forward-looking digital asset regulatory system, and the CLARITY Act is a key step in achieving this goal. He emphasized that the CFTC is ready to implement the relevant market structure framework under the current administration and believes that this bill will help the U.S. maintain a leading position in global crypto finance competition.
Former President Trump also publicly supported the bill and urged Congress to accelerate the legislative process. Trump stated that the banking industry and the crypto sector in the U.S. need to reach certain compromises on regulatory rules to facilitate the bill’s final passage. He believes that a comprehensive digital asset regulatory system will help solidify America’s advantages in blockchain innovation.
Despite some policy support, the CLARITY Act still faces significant disagreements at the legislative level. One of the contentious issues centers on stablecoin yield mechanisms. Some banking institutions worry that stablecoin yield plans could disrupt the traditional deposit system, while industry insiders believe that such mechanisms are important for promoting blockchain financial innovation and capital efficiency.
Meanwhile, some representatives from the crypto industry have also criticized the current version of the bill. Charles Hoskinson, founder of Cardano, stated that the current draft might classify most digital assets as securities, which could give regulators more scope for enforcement and create uncertainty for industry development. He called on lawmakers to adjust relevant provisions to ensure that technological innovation is not overly restricted by regulation.
Currently, the U.S. Congress is expected to revisit digital asset legislation this month. Although the initial deadline in early March has passed, the industry remains focused on whether the next round of discussions can make substantive progress on the regulatory framework. As countries around the world accelerate the development of crypto asset rules, the direction of U.S. digital asset legislation has become a key focus for the market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
U.S. CFTC Chair Outlines Future Priorities: Clarifying Crypto Regulations, Ending Regulatory Disputes with SEC, and More
CFTC Chairman Mike Selig stated at the conference that the United States is experiencing a technological revolution driven by AI and blockchain, emphasizing the need to adjust the regulatory framework to adapt to changes. Key areas include derivatives market regulation, addressing legacy issues in legislation, clarifying the classification of crypto contracts, and prioritizing agricultural and energy needs.
GateNews9m ago
U.S. banking industry plans to sue OCC over blocking crypto licenses, BPI says regulatory rules are being distorted
The US banking industry is considering filing a lawsuit against the Office of the Comptroller of the Currency (OCC) because the OCC has granted national trust bank charters to cryptocurrency and fintech companies. BPI believes this move is illegal and has led to regulatory unfairness. Opposing voices include the Banking Association and state regulators, who argue that this measure could bypass traditional regulation. The OCC has approved licenses for multiple crypto companies, but this has sparked controversy, especially with applications from companies related to the Trump family drawing congressional scrutiny. If the lawsuit succeeds, it could impact the compliance status of crypto companies and the regulatory framework.
MarketWhisper55m ago
What is the impact of the SEC's issuance of interpretive guidance promoting a "Token Classification Framework" on the cryptocurrency industry?
The U.S. Securities and Exchange Commission (SEC) has submitted new interpretive guidance on crypto assets, planning to establish a token classification framework to clearly define which crypto assets are securities and their related regulatory requirements. The guidance aims to fill legislative gaps and influence the operational models of crypto companies. As the global digital asset market develops, the U.S. regulatory framework is moving towards institutionalization, which could change global regulatory trends.
区块客1h ago
Moldova investigates cases of cryptocurrency interference in parliamentary elections involving a total of $107 million
Moldova's National Anti-Corruption Center has disclosed a plan to influence the 2025 parliamentary elections using cryptocurrency, involving a total amount of $107 million. The funds are transferred through non-custodial crypto wallets to intermediaries, who then exchange them for cash to bribe voters and promote candidates. The source of the funds is mainly from crypto platforms in Russia and Kyrgyzstan.
GateNews1h ago
Trump calls for priority passage of voter ID laws; crypto regulation bills may face delays
Trump stated at the Florida conference that he will refuse to sign any other laws until the "SAVE America Act" is approved by Congress, which addresses issues such as voter identification. This stance could impact the progress of legislation related to the cryptocurrency industry. At the same time, Trump has prioritized crypto regulation but currently considers the voter identification bill as the top priority.
GateNews1h ago
