Republican members of the US House of Representatives have officially proposed the Digital Asset Market Clarity Act as a legislative attempt to advance the regulatory structure of the cryptocurrency market. The bill grants the Commodity Futures Trading Commission (CFTC) exclusive regulatory authority over the digital commodity spot market and establishes a system for platforms to choose registration paths between the CFTC and the Securities and Exchange Commission (SEC). The bill explicitly states that payment based stablecoins do not belong to securities, prohibits regulatory agencies from requiring custodians to include customer assets in their own balance sheets, and exempts some DeFi and wallet providers from SEC supervision. (CoinDesk) https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=43237