House Democrats are accusing the SEC of withholding details on the Digital Asset Market Structure Bill, also known as the CLARITY Act, which aims to address regulatory challenges in the crypto space.
The bill proposes to divide regulatory responsibilities between the SEC and the CFTC, with the SEC overseeing centralized crypto assets and the CFTC handling decentralized assets like Bitcoin and Ethereum.
Democrats claim the SEC provided a detailed analysis of the bill to Republicans but not to them, leading to concerns about unequal access to crucial information.
Representative Maxine Waters has called for transparency from the SEC ahead of the bill's markup session on June 12, highlighting potential delays and complications in the regulatory process.