Republican members of the U.S. House of Representatives have officially introduced the "Digital Asset Market Clarity Act."

Republican members of the U.S. House of Representatives have formally introduced the Digital Asset Market Clarity Act as a legislative attempt to advance the regulatory framework for the crypto market. The bill grants the Commodity Futures Trading Commission (CFTC) exclusive regulatory authority over the digital commodities spot market and establishes a system allowing platforms to choose their registration path between the CFTC and the Securities and Exchange Commission (SEC). The bill clarifies that payment stablecoins are not securities, prohibits regulators from requiring custodians to include client assets on their own balance sheets, and exempts certain DeFi and wallet providers from SEC oversight. (CoinDesk)