Clarity Act to establish consumer protection rules for a digital assets hub platform

On 16 July, Clarity Act will establish clear federal rules for a centralized platform for consumers to buy, sell and hold digital assets, brokers, dealers and custodians, covering matters such as registration, regulation, disclosure, trusteeship, asset segregation, market integrity, conflict of interest, fraud prevention and insolvency. Following the collapse of the FTX almost four years ago, many consumers were unable to confirm the location of the assets, whether the assets were separated from the Platform ' s funds and the manner in which their assets were disposed of when the company failed. Regulators, bankruptcy courts and law enforcement agencies then deal with related issues。