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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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CEX encryption lobbying group urges Congress to support the CLARITY Act
On July 8, according to Cointelegraph, the CEX crypto lobbying group and several crypto companies urged U.S. House members to quickly pass the CLARITY Act during next week's session to clarify the regulatory framework for the crypto industry. In a joint letter sent this Monday, the Stand With Crypto coalition, along with 65 crypto advocacy organizations and companies, urged lawmakers to support the Digital Asset Market Clear Act (CLARITY Act). The letter stated: "We know that some are trying to politicize crypto legislation, but crypto technology is profoundly reshaping the global economy. If the U.S. does not quickly implement friendly policies to support Blockchain technology, it risks falling behind other countries." The CLARITY Act clearly defines the division of responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in crypto regulation. The act grants most of the regulatory authority over the crypto market to the CFTC, while SEC oversees crypto products related to securities.