Senate Don Propose RFI & CLARITY Acts to Define Crypto Regulation
Senate lawmakers don propose two beta bills — Responsible Financial Innovation (RFI) Act and CLARITY Act — to make crypto regulation and token classification clear. The RFI Act wey Senator Scott, Lummis, Hagerty, and Moreno dey lead, wan classify most digital tokens as commodities under CFTC supervision but still keep SEC authority for securities. E get limits on how dem go apply securities law, e ask make people talk their opinion for stablecoin rules, propose custody frameworks, DeFi exemptions, anti-fraud measures and safe harvest for projects wey transparent and decentralized. The CLARITY Act wey Senator Lummis and Gillibrand sponsor, go give CFTC sole authority over digital commodities like Bitcoin (BTC) and Ethereum (ETH), define "digital commodity," and require platforms wey handle am to register with CFTC. Both bills wan close regulatory gaps, reduce wahala, promote innovation and protect investors. Senate hearings dey go on, final vote dem expect before September 30. Crypto traders suppose dey watch how crypto rules dey change on stablecoins, custody and DeFi as clear rules fit boost market confidence and make institutions join more.
Bullish
Dis kain comprihensib regulatori push clarify di oversight, reduce legal uncertainty, an signal say tokens like BTC an ETH go operate under defined rules. Short term, clearer crypto regulation fit boost trader confidence, lift trading volumes, an spur price gains. Long term, stable frameworks for commodities, custody, an DeFi likely go attract institutional investors, support sustained market growth an positive price trends for major tokens.