US Cryptocurrency Market Structure Bill Replacement Amendment Revealed

The alternative modification bill (ANS) for the US Cryptocurrency Market Structure Bill (CLARITY) has been revealed, according to Crypto in America host Eleanor Terret. The ANS replaces the entire text of the existing bill with a new text, serving as an updated version of the original bill. Based on this amendment, a committee markup (discussion and modification procedure before plenary referral) is scheduled to take place on the 10th (local time). The Cryptocurrency Market Structure Bill is a follow-up to the 21st Century Financial Innovation and Technology Act (FIT21, Cryptocurrency Market Structure Bill) passed in the previous session, which limits the scope of project disclosure requirements. It also includes provisions requiring developers to raise capital under SEC supervision or register with the Commodity Futures Trading Commission (CFTC) for cryptocurrency trading, establishing clear jurisdictional boundaries between the two regulatory agencies.