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US Senator: Only Congress Can Grant CFTC Authority Over Digital Asset Spot Markets, Clarity Act Is the Only Viable Path

On July 14, US Senator Cynthia Lummis stated that no administrative rule can grant the Commodity Futures Trading Commission (CFTC) regulatory authority over the digital asset spot market, nor can it provide new sanctions authority against counterparties, nor protect developers from improper prosecution. Only Congress can do these things, and the Clarity Act is the only viable way to achieve these goals.

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