📣 The US Senate has introduced an updated CLARITY bill on the structure of the crypto market.

The document establishes the key role of the CFTC in coordinating with the SEC.

CFTC (Commodity Futures Trading Commission) regulates spot and derivatives markets, while SEC (Securities and Exchange Commission) — securities markets.

What is important:
• Clear definitions of Blockchain, DeFi, DAO, and other basic concepts have been provided for the first time.
• Rules for registration and supervision for exchanges, brokers, and custodians are being introduced.
• Standards for client protection and the separation of client and corporate assets are established.
• Users gain the legal right to store their crypto assets independently.
• New funding sources for the CFTC are being established and the position of "retail investor representative" is being introduced.

Why does the market need this:
• Eliminates the conflict of norms between regulators
• Makes project registration and listing transparent
• Enhances user protection
• Establishes a foundation for institutional inflow and growth of trust in the crypto market