In an earlier post, we assessed the Senate’s latest draft of the Clarity Act and singled out two provisions, in Title III and Section 404, that we believe Congress should fix. This post turns to Title I, which attempts to draw the jurisdictional lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Our overall read is that it is a commendable step toward greater regulatory clarity, though there are notable areas for improvement, which we highlight below. One of the defining questions in digital asset regulation has long been whether a given token falls within ... (full story)