US senator bill may shield crypto exchanges from SEC enforcement actions 

The Digital Trading Clarity Act of 2022 focuses on providing regulatory clarity around classifying digital assets and related liabilities

US crypto bill

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U.S. Senator Bill Hagerty introduced legislation that might protect cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions. It aims to provide regulatory clarity around the classification of digital assets and related liabilities under existing securities laws.

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The regulatory uncertainty discourages investments in the crypto industry and hampers job creation opportunities in the US. As a result, legal ambiguity “jeopardizes the United States’ leadership in this transformational technology at such a crucial time.” Therefore, much-needed certainty would improve the growth and liquidity of U.S. cryptocurrency markets.

To turn the bill into law, it needs approval from the Senate, the House and the President of the United States.

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