The Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, part of the House Financial Services Committee, has scheduled a “field hearing” on “How the Clarity Act Unlocks Innovation.
This hearing will take place in New York City on Friday, July 17th at 10AM ET.
While few details are currently available, like the list of individuals or firms testifying on behalf of the CLARITY Act, expect a series of insiders to support the need for regulation pertaining to digital assets to ensure consumer protections and to fuel digital asset innovation.
The CLARITY Act, or crypto market infrastructure legislation has been approved in the House but is waiting on a floor vote to advance the legislation to the White House to be signed into law.
The legislation was approved in the Senate Banking Committee but negotiations continue regarding aspects the banking community does not like as it will create more competition for its customers.
The legislation is widely viewed as needing to be approved before the Congressional summer recess in August.
Recent reports indicate the updated legislation, with any changes, will be revealed during the July 4th holiday weekend.
