The new bill sets the standard for such a custodian as one under "adequate supervision and appropriate regulation by certain federal, state, or foreign authorities" — a bar the CFTC will be called to define.
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U.S. House Republicans Officially Introduce Crypto Market Structure Bill
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CLARITY Act sets standards for qualified digital asset custodians, requiring them to be under adequate supervision and appropriate regulation by federal, state, or foreign authorities, with the CFTC tasked to define the compliance bar
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The Crypto Market Structure Bill known as the Digital Asset Market Clarity (CLARITY) Act aims to resolve jurisdictional ambiguity between the SEC and CFTC, define digital asset classification and custody rules, and strengthen consumer protections
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