The U.S. Congress accelerates legislation for the regulation of Crypto Assets to prevent a repeat of the FTX collapse crisis.

During this week's "Crypto Week" in Washington, D.C., policymakers from the House Rules Committee focused on the Digital Asset Market Clarity (CLARITY) Act, which aims to provide a clear regulatory framework for the crypto industry.

The core issues of the "CLARITY Act" include prohibiting the mixing of client funds, setting capital adequacy requirements, strengthening audit tracking mechanisms, and preventing conflicts of interest.

Lawmakers unanimously believe that the upcoming legislation, such as the "CLARITY Act", can prevent crashes similar to that of FTX. Republican Congressman French Hill warned that without these regulatory frameworks in place, the FTX tragedy may repeat itself, as the existing processes do not adequately protect consumers.

It is reported that the "CLARITY Act" will clearly assign the regulatory authority over digital commodity transactions to the Commodity Futures Trading Commission (CFTC), protecting retail investors through "precisely calibrated resale restrictions" rather than simply applying securities regulations.

In addition to the CLARITY Act, lawmakers are also working to advance two other Crypto Assets-related bills, namely the Guiding and Establishing the U.S. Stablecoin National Innovation Act (GENIUS Act) and the Anti-CBDC Surveillance State Act (.

These two bills have different focuses. The "GENIUS Act" aims to establish banking-level regulatory standards for stablecoin issuers, covering reserve transparency and operational norms; while the "CBDC Anti-Surveillance State Act" limits the Federal Reserve's power to issue digital dollars (CBDC), with the main concern being that this currency could be used as a government surveillance tool.

In summary, the collaborative advancement of this bill demonstrates the efforts of the United States to seek a balance between protecting consumer rights and promoting industry development, aiming to establish a more comprehensive and transparent Crypto Assets regulatory system. This series of measures will also help protect the interests of consumers and investors, and promote the robust growth of the market.

Furthermore, Trump's Digital Assets Task Force may release a report on July 22, which may involve recommendations for a national Bitcoin strategic reserve for the United States. This move is also expected to boost the upward potential of the Crypto Assets market.

)Crypto Assets regulation