House Majority Whip Tom Emmer announced that the House of Representatives has completed its work on the crypto market structure by passing the CLARITY Act, officially known as the Digital Asset Market Clarity Act. The legislation divides oversight between the SEC and the Commodity Futures Trading Commission. Responsibility now lies with the Senate, where the bill awaits action. This situation highlights an ongoing legislative bottleneck in the Senate, as the market continues to await comprehensive federal crypto regulations.
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