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U.S. Senator: The Clarity Act Is the Only Feasible Way to Grant the CFTC Regulatory Authority Over Digital Asset Spot Markets
Svmuu News: U.S. Senator Cynthia Lummis stated that no administrative rule can grant the U.S. Commodity Futures Trading Commission (CFTC) regulatory authority over the digital asset spot market, nor can it grant the CFTC new sanctions authority against counterparties, nor can it protect developers from improper prosecution. Only Congress can achieve these goals, and the Clarity Act is the only viable path to achieving them.
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