March 4 News: The legislative process for the U.S. digital asset regulatory framework has heated up again. Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), recently publicly called on Congress to pass the CLARITY Act as soon as possible, believing that this bill is an important foundation for building the future digital asset market structure and clarifying the regulatory responsibilities of cryptocurrencies.
Michael Selig posted on social media that the U.S. must quickly establish a forward-looking digital asset regulatory system, and the CLARITY Act is a key step in achieving this goal. He emphasized that the CFTC is ready to implement the relevant market structure framework under the current administration and believes that this bill will help the U.S. maintain a leading position in global crypto finance competition.
Former President Trump also publicly supported the bill and urged Congress to accelerate the legislative process. Trump stated that the banking industry and the crypto sector in the U.S. need to reach certain compromises on regulatory rules to facilitate the bill’s final passage. He believes that a comprehensive digital asset regulatory system will help solidify America’s advantages in blockchain innovation.
Despite some policy support, the CLARITY Act still faces significant disagreements at the legislative level. One of the contentious issues centers on stablecoin yield mechanisms. Some banking institutions worry that stablecoin yield plans could disrupt the traditional deposit system, while industry insiders believe that such mechanisms are important for promoting blockchain financial innovation and capital efficiency.
Meanwhile, some representatives from the crypto industry have also criticized the current version of the bill. Charles Hoskinson, founder of Cardano, stated that the current draft might classify most digital assets as securities, which could give regulators more scope for enforcement and create uncertainty for industry development. He called on lawmakers to adjust relevant provisions to ensure that technological innovation is not overly restricted by regulation.
Currently, the U.S. Congress is expected to revisit digital asset legislation this month. Although the initial deadline in early March has passed, the industry remains focused on whether the next round of discussions can make substantive progress on the regulatory framework. As countries around the world accelerate the development of crypto asset rules, the direction of U.S. digital asset legislation has become a key focus for the market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The U.S. Democratic Party plans to introduce legislation to restrict prediction markets, raising concerns over insider trading related to the Iran war.
U.S. Senator Chris Murphy pointed out in a video that someone is betting on "the United States going to war with Iran," suspecting that some individuals have insider information. He and Representative Mike Levin are drafting legislation to strengthen regulation of prediction markets like Polymarket to prevent profiting from military actions.
GateNews1h ago
Vancouver City Government in Canada has decided to terminate the Bitcoin reserve proposal after legal review.
Vancouver city government employees recommend terminating the "Bitcoin Friendly City" motion due to regulations prohibiting Bitcoin from being used as a municipal reserve asset. The motion was proposed by Mayor Ken Sim and aimed to explore the possibility of accepting cryptocurrency for taxes and converting financial reserves into Bitcoin, but it is restricted by provincial laws.
GateNews1h ago
The Russian Ministry of Finance is considering introducing a new stablecoin legislation.
The Russian Ministry of Finance is considering introducing a stablecoin bill, planning to regulate stablecoins separately to unlock their potential. Stablecoins currently have no legal status in Russia, but the central bank has created a related category, and some stablecoins can be used for cross-border payments.
GateNews1h ago
The U.S. Democratic Party proposes legislation to restrict prediction markets; Iran airstrike bets spark insider trading controversy
U.S. Democratic lawmakers plan to push for new regulations to strengthen oversight of prediction markets in response to insider trading risks stemming from bets on military actions against Iran. Senator Murphy warned that such bets could lead to moral hazard, encouraging insiders to profit from them. The proposed legislation aims to prevent the use of sensitive information for unfair trading and has also sparked further discussions on the regulation of prediction markets.
GateNews1h ago
The Federal Reserve emphasizes technological neutrality! The capital accounting method for tokenized securities should be in line with traditional securities.
The Federal Reserve, FDIC, and OCC jointly issued guidelines, clearly stating that tokenized securities should follow the same capital requirements as traditional securities, emphasizing neutrality regarding technological forms to promote the development of blockchain assets, reduce regulatory concerns, and enhance the business flexibility of financial institutions.
CryptoCity2h ago
Gate Daily (March 6): Crypto market structural bill negotiations hit a deadlock; Russia plans to introduce a stablecoin bill
Bitcoin failed to continue its rebound, with the price around $70,810. Negotiations on the U.S. Digital Asset Market Structure Act have stalled, with banks opposing the approval of stablecoin yield products. Russia plans to introduce an independent stablecoin bill to legalize the related industry. Market conditions are affected by geopolitical tensions, with rising oil prices raising concerns and further impacting inflation and trade.
MarketWhisper3h ago
