Key facts
- The U.S. House Financial Services Committee will hold a hearing on the Digital Asset Market CLARITY Act on July 17.
- The CLARITY Act aims to establish clear rules for digital assets and inter-agency regulatory responsibilities.
- Gaming industry groups are urging senators to ban sports betting on prediction markets within the CLARITY Act.
- Prediction markets like Polymarket and Kalshi are mentioned in relation to the proposed ban.
- The Senate aims to advance the crypto bill before the July 4 recess.
- A bipartisan House package on children's online safety is complicating federal AI policy discussions.
- The children's safety package includes measures on AI chatbots and age verification.
- Lawmakers are divided on preemption and the scope of protections in the children's safety bill.
- The Chamber of Progress suggests the children's safety approach may be too broad.
The U.S. House Financial Services Committee is set to hold a hearing on the Digital Asset Market CLARITY Act on July 17. This development pushes back previous targets for the bill's approval, which had been aimed for July 4. The CLARITY Act's primary objective is to establish clear regulatory frameworks for digital assets and delineate inter-agency responsibilities in their oversight.