Grayscale urges Senate vote on CLARITY Act before recess

Odaily News: Digital asset management firm Grayscale has called on U.S. Senate leaders to hold a vote on the CLARITY Act before the August recess, warning that further delay could undermine U.S. competitiveness in the digital asset market.

The company sent letters to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, stating that ongoing regulatory uncertainty continues to subject digital asset businesses to enforcement pressure in the absence of a unified federal framework.

The CLARITY Act aims to allocate regulatory oversight of digital asset markets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission, while establishing a unified set of national market rules. The legislation also addresses market structure, custody, enforcement, stablecoins, government ethics, developer protections, and safeguards for direct asset holders.