Pass the framework, test the restrictions
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For Korean policymakers, the U.S. Senate’s failure on Sept. 15 to advance the proposed CLARITY Act, which would establish a federal regulatory framework for digital assets and clarify the respective roles of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), deserves attention. The immediate setback was American, but the legislative risk is familiar in Seoul. The bill fell short of the 60 votes needed to proceed after years of industry demands.
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