Svmuu News: The Clarity Act will establish clear federal rules for centralized platforms, brokers, dealers, and custodians that consumers use to buy, sell, and hold digital assets, covering matters such as registration, regulation, disclosure, custody, asset segregation, market integrity, conflicts of interest, fraud prevention, and bankruptcy.
Following FTX’s collapse nearly four years ago, many consumers were unable to confirm where their assets were held, whether they were segregated from the platform’s funds, or how their assets would be handled in the event of the company’s failure. Regulators, bankruptcy courts, and law enforcement agencies subsequently addressed these issues.