US Senate Fails to Advance the Digital Asset Market Clarity Act

Odaily reports that the U.S. Senate recently failed to advance the 635-page Digital Asset Market Clarity Act (Clarity Act), which aims to establish a regulatory framework for digital asset market structure.

The bill sought to legally classify crypto tokens, set licensing requirements for trading-related businesses, and delineate the regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). (CoinDesk)