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Republican congressman Tom Emmer has introduced the Securities Clarity Act. This bill aims to provide regulatory clarity for the web3 industry by differentiating assets that are not securities from investment contracts. The proposed legislation has received praise from industry experts and comes at a time when the SEC's heavy-handed approach has faced criticism.
Jerry Brito, the executive director of Coin Center, a non-profit web3 lobbying group, praised the bill. “This is the smartest approach we have seen to provide clarity about how securities law applies to digital assets,” he said.
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