The Digital Asset Market Clarity Act (CLARITY Act), establishing a permanent statutory boundary between federal agencies in regulating digital assets, was formally placed on the U.S. Senate Legislative Calendar. However, its immediate passage faces strong resistance as the bill recently stumbled over crucial hurdles regarding…
Nevertheless, the Memorandum of Understanding (MOU) issued by the SEC and CFTC and the subsequent joint interpretive release established the first formal five-part token taxonomy, explicitly classifying digital collectibles as non-securities. This provided significant regulatory clarity by confirming that NFTs are not a security. The NFT art market has transitioned away from the speculative frenzy of 2021 into a more consolidated ecosystem with curated, high-end digital art featuring themes of the 250th anniversary of our nation. On Flag Day, celebrated on June 14th, which marks our nation’s first crypto President’s 80th Birthday, many museums are showing their commitment to preserving Digital Art for Future Generations and holding USA 250 themed exhibitions.
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