The CLARITY Act (aka Digital Asset Market Clarity Act) is a federal bill that creates a comprehensive regulatory framework for U.S. crypto and digital asset markets. The CLARITY Act divides responsibility between the SEC and the CFTC and defining how different kinds of tokens are treated under the law.
If activated, it allows stablecoins (crypto) to effectively act as digital dollars. This allows the system to move 24/7 across borders, which can make it easier for people abroad to hold and use dollars instead of their local currency
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