The Senate's encryption regulatory draft has received institutional support, and the auxiliary asset plan is superior to the CLARITY bill.

[Chain News] On August 8, it was reported that a general partner and research director of an investment firm stated on a social platform that this week, their team, in collaboration with several institutions, expressed their opinions in a letter regarding the cryptocurrency market structure legislative proposal released by the Senate Banking Committee. On the key issue of Token securities regulation, the Senate draft differs from the "CLARITY Act" that has been passed by the House of Representatives. The investment firm believes that the Senate's "ancillary assets" proposal is more favorable to the crypto industry. Although both proposals are superior to the difficult-to-apply and reverse-incentive "howey test" system, the Senate draft is more concise, avoiding the rigid framework for decentralized tokens and protocols. It includes exclusionary clauses to prevent abuse, meaning that assets with specific financial rights are not considered ancillary assets.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
ProbablyNothingvip
· 08-09 07:30
Whatever, the regulation is here.
View OriginalReply0
NftCollectorsvip
· 08-08 02:04
From the perspective of data analysis, the potential Favourable Information of "auxiliary assets" for the web3 ecosystem is no less than the innovation of Impressionism for modern art. Looking forward to the future market.
View OriginalReply0
MagicBeanvip
· 08-08 02:03
More regulation again, when will it end?
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)