Clarity Act, we hardly knew ye: We look at what was in the bill and what’s replacing it

Clarity Act, we hardly knew ye: We look at what was in the bill and what’s replacing it

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

OK, the Clarity Act is dead (at least for now).

Most crypto enthusiasts had a sense that this was a big bummer for the sector.

But how many knew what the legislation actually did?

The Digital Asset Market Clarity Act was Congress’ umpteenth version of a similar concept that’s made the rounds for years: to define the different kinds of cryptocurrencies and related assets, and say exactly which regulators have power over them.

For much of the industry’s history in the U.S., it battled with agencies such as the U.S.

Securities and Exchange Commission over what platforms like Coinbase and Kraken were allowed to do and whether issuing crypto was legally the same as launching a security.

It got heated, and there were a lot of enforcement actions, expensive settlements and drama, much of it starring former SEC Chair Gary Gensler.

(Pausing for crypto insiders to boo and hiss.) The Clarity Act would have cleared that up and also elevated the SEC’s sister agency, the Commodity Futures Trading Commission, to new authorities — most importantly full supervisory powers over the crypto commodity spot markets.

Spot markets are where commodities trade directly, and since bitcoin BTC$81,810.15 and Ethereum’s ether ETH$2,648.35 were eventually determined to be commodities, it became clear the bulk of crypto trading happens in that space that’s absent a hands-on regulator (except in situations in which bad guys are manipulating the markets).

This conflict is uniquely American, because the U.S.’ regulatory regime developed completely separate securities and derivatives agencies, unlike the unification elsewhere.

Analiz: Piyasa hareketliliği devam ediyor.