US congressman: CLARITY bill may allow listed companies such as Tesla and Meta to circumvent US SEC regulation
Internet reports that U.S. Senator Elizabeth Warren issued a warning that if a bill aimed at regulating the cryptocurrency market becomes law, listed companies may bypass the regulation of U.S. securities laws. At a Senate Banking Committee hearing on crypto market structure legislation on Wednesday, Warren, a senior member of the committee, said she supported digital asset regulation that would strengthen the U.S. financial system, but raised serious concerns about the Digital Asset Markets Transparency Act (CLARITY Act) under consideration in the House. Warren pointed out that the bill could allow "non-crypto companies" to circumvent the U.S. Securities and Exchange Commission (SEC) regulation by tokenizing assets. Under the House bill, listed companies like Meta or Tesla can completely escape SEC supervision by simply placing their shares on the blockchain.
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