The Clarity Act aims to establish consumer protection rules for centralized digital asset platforms
The Clarity Act will establish clear federal rules for centralized platforms, brokers, dealers, and custodians used by consumers to buy, sell, and hold digital assets, covering registration, regulation, disclosure, custody, asset segregation, market integrity, conflicts of interest, fraud prevention, and bankruptcy matters.Since the collapse of FTX nearly four years ago, many consumers have been unable to confirm the location of their assets, whether their assets are separated from platform funds, and how their assets will be handled in the event of the company's failure. Regulatory agencies, bankruptcy courts, and law enforcement agencies have since addressed these issues.