"The bill would formalize jurisdictional boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission, while also defining how tokens, stablecoins and decentralized finance platforms fit within existing financial law."
"One of the most sensitive issues in negotiations has been whether stablecoin issuers should be allowed to offer crypto yield or yield-like rewards to users, exposing a divide between crypto firms and traditional banks."
"Recent negotiations have produced a compromise that would prohibit passive yield while allowing activity-based rewards tied to payments and platform usage, balancing concerns from banks with demands from the digital asset sector."
Lawmakers are close to finalizing the Digital Asset Market Clarity Act, which aims to create a comprehensive regulatory framework for digital assets in the U.S. Negotiations have progressed, with only a few contentious issues remaining. The bill seeks to clarify the jurisdictional boundaries between the SEC and CFTC and define the status of tokens and stablecoins. A compromise has been reached regarding stablecoin issuers, allowing activity-based rewards while prohibiting passive yield, addressing concerns from both banks and the digital asset sector.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]