Clarity Act news gained attention after Senator Cynthia Lummis said the proposed legislation would require crypto platforms to keep customer digital assets separate from company funds. Under the bill, Bitcoin (BTC), Ethereum (ETH), and other customer assets would not become part of an exchange’s bankruptcy estate if the platform fails. Lummis said the measure closes a regulatory gap that has left users as unsecured creditors in past crypto bankruptcies, bringing crypto custody rules closer to traditional brokerage standards.
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