The US Senate Banking Committee has launched a discussion draft on the CLARITY Act, proposing the concept of "ancillary assets"

According to BlockBeats, on July 27th, the US Senate Banking Committee has released a discussion draft on the CLARITY Act (Market Structure Act), proposing the concept of "ancillary assets" to clarify the specific meaning of the digital asset concept and seeking clarification on how the US Securities and Exchange Commission (SEC) should regulate digital assets. The committee invites the public to provide feedback on the draft by early August. Last week, the House of Representatives voted to pass the CLARITY Act, which is still pending approval by the Senate and submitted for Trump's signature. The White House encryption director stated last week that Trump will continue to support the passage of the CLARITY Act, fulfilling his campaign promise in the field of encryption. This week, the Senate Banking Committee clarified its direction of efforts: focusing on the role of the SEC in regulating the cryptocurrency market. Rashan Colbert, the US policy director of the Crypto Council for Innovation, said that the way the Senate advances legislation may be different from the process of the House passing the CLARITY Act, but he expects the Agriculture and Banking Committees to eventually coordinate the handling of market structure legislation. Regardless of which bill is passed, the opinions of Democrats are crucial as the Senate requires 60 votes to pass the bill.