Today, the U.S. Senate Banking Committee reviewed the Digital Asset Market Structure Act (CLARITY Act), aiming to establish a clear regulatory framework for the crypto market, with its core focus on clarifying the division of regulatory authority over digital assets.

📜 Core: Clear Accountability

The bill's key objective is to end the jurisdictional disputes between the SEC and CFTC. It proposes to explicitly define decentralized assets such as Bitcoin and Ethereum as "digital commodities," primarily regulated by the CFTC, while security tokens remain under SEC jurisdiction. This move aims to integrate crypto activities into the traditional financial regulatory system, providing clear rules for exchanges, DeFi, and related sectors.

⚖️ Key Controversies

Several major issues remain before the bill can pass:

1. Stablecoin Yields: The banking industry advocates banning interest payments on stablecoins to prevent deposit outflows.

2. DeFi Liability: A fundamental debate exists over whether developers should be held responsible for third-party use of their code.

3. Political Provisions: Whether to include "ethics clauses" to prevent conflicts of interest among senior officials has become a focal point in bipartisan negotiations.

📈 Market Impact: Long-term positive, but gradual

If passed, the impact will be profound but not immediate:

· Institutional Entry Facilitated: A clear regulatory framework is essential for attracting large-scale traditional institutional investment.

· Core Asset Recognition: Bitcoin's "commodity" status will be strengthened; Ethereum's commodity nature and staking activities may receive clearer compliance and tax treatment, directly benefiting its ecosystem.

· Short-term Realism: The market may already have priced in expectations; the bill still faces complex procedures in the House and presidential approval, making the 2026 implementation timeline uncertain.

💎 Summary: Stay optimistic, keep building #puppies

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