Wu Blockchain (@WuBlockchain): Progress of US Crypto Legislation: Can Digital Assets Be Used for Mortgage Underwriting?
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Progress of US Crypto Legislation: Can Digital Assets Be Used for Mortgage Underwriting? In an interview, U.S. Senator Cynthia Lummis of Wyoming revealed the latest progress on the crypto market structure bill. She stated that following the signing of the "Genius Act," a stablecoin bill, into law, the legislative focus has shifted to the "Clarity Act," a market structure bill for digital assets. Lummis specifically noted that the Senate's version will introduce the key definition of "ancillary assets," aiming to clearly delineate between securities regulated by the SEC and commodities regulated by the CFTC, in order to provide a clear legal framework for the market. Additionally, she is promoting another bill that would allow homebuyers to include their held digital assets in their net worth when applying for a mortgage. Video Source: https://t.co/KmqYsyx8ND