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According to Techub News, the legislative process of the US CLARITY Act is facing changes in key figures. Cynthia Lummis, the chair of the Senate Banking Committee's Subcommittee on Digital Assets, who has been leading the bill, announced that she will not seek re-election and will step down at the end of the year. Another key Republican negotiator, Senator Thom Tillis from North Carolina, is also leaving. Both have played crucial bridging roles in recent debates on crypto policies. Additionally, the term of Hester Peirce, a commissioner at the US Securities and Exchange Commission (SEC), will end this Friday. Peirce has been a significant figure in the field of crypto regulation since 2018. Analysts believe that the departure of these key supporters could have a notable impact on the reintroduction of the CLARITY Act or the drafting of a new version in the next Congress. (Wu Blockchain)
Techub News reported, according to Cointelegraph, SEC Commissioner Hester Peirce delivered a speech at the SEC Investor Advisory Committee, calling on regulators to simplify the disclosure requirements for listed companies and advance an "innovation exemption" mechanism for tokenized securities. Peirce pointed out that listed companies expend significant resources preparing mandatory disclosure documents, but the related content often fails to effectively enhance the quality of information available to investors and may instead lead to information obfuscation. She believes regulators should avoid excessive intervention in the market. On the topic of tokenized securities, Peirce stated that SEC staff are continuing to advance research on a potential "innovation exemption" mechanism. This would allow for limited experimental exploration of tokenized securities during the assessment period under the current securities law framework. She also noted that blockchain systems hold the promise of enabling faster settlement and reducing reliance on traditional intermediaries in certain scenarios.
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