After the Stablecoins Genius Act, it is worth paying attention to the CLARITY Act, which focuses on token issuance and is based on FIT 21. Seven standards determine whether a token can be converted from a "security" to a "digital commodity", namely: Decentralized governance (without a single controller); Open source code; Automated operation; Token holding dispersion (with no single entity exceeding 20%); Value comes from use and operation; No privilege restrictions; Time limit (the above rules must be completed after ICO). https://(a16zcrypto.com)/posts/article/genius-act-clarity-act-crypto-legislation-explained/