"The coalition represents a broad cross-section of the digital asset ecosystem, from infrastructure providers to academic groups, highlighting the industry's unified call for regulatory clarity."
"The absence of statutory guidance has led to what the industry describes as 'regulation by enforcement,' referencing a wave of lawsuits and actions brought by both agencies in recent years."
"Instead of relying solely on agency action, the coalition argues for Congress to codify clear rules governing digital asset classification, trading, and disclosure requirements."
More than 100 crypto firms and industry groups are urging the U.S. Senate to advance the 'Clarity Act' for a comprehensive federal framework for digital assets. The coalition, including major companies like Coinbase and Ripple, emphasizes the need for clear jurisdiction between the SEC and CFTC to avoid 'regulation by enforcement.' They argue that agency actions alone cannot ensure a stable investment environment and call for Congress to establish clear rules for digital asset classification and trading.
Read at Bitcoin Magazine
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