House Democrats Prepare New Crypto Bill (CLARITY Act) With Expanded SEC Powers

The proposal would revive Maxine Waters’ consumer protections, including stricter custody rules, monthly proof-of-reserves reports and 24-hour customer service. Democrats favor expanded SEC authority, contrasting with the Republican-backed CLARITY Act’s emphasis on CFTC oversight of digital commodity spot markets. Industry resistance, disagreements over DeFi regulation and Trump's veto power could complicate passage, potentially making the proposal a blueprint for future legislation. House Democrats are preparing a new crypto market structure bill that could expand SEC oversight and revive rejected provisions. The proposal builds on Rep. Maxine Waters' consumer protection efforts as Democrats prepare to control Congress in January.

Source: Crypto Front News