The CLARITY Act aims to create a regulatory framework for digital assets in the US, primarily assigning the **CFTC** central regulatory authority over **digital commodities** while preserving some **SEC** authority. Here's a breakdown of key provisions:
* **Defining Digital Commodities:** The bill defines "digital commodity" as a digital asset intrinsically linked to blockchain use, *excluding* securities, derivatives, and stablecoins. A key component is the concept of a "**mature blockchain**" – one not controlled by a single entity and meeting specific criteria.
* **SEC Role & Exemptions:** The bill offers a limited exemption from SEC registration for fundraising involving digital commodities on mature blockchains (capped at $75 million over 12 months), requiring an "offering statement." Issuers on *immature* blockchains face additional reporting requirements. Existing SEC-registered market participants can trade digital commodities with CFTC notification, provided regulations are consistent.
* **CFTC Authority:** The CFTC gains exclusive regulatory jurisdiction over digital commodity transactions, requiring exchanges, brokers, and dealers to register. It establishes "Core Principles" for these exchanges, covering areas like trade monitoring, conflict of interest, and customer asset protection. Exchanges can only list commodities from mature blockchains or those with compliant issuers.
* **Provisional Registration:** A provisional registration process is established for early compliance while the full framework is implemented.
* **Other Provisions:** The bill also addresses:
* **Decentralized Finance (DeFi):** Excludes DeFi activities from direct regulation but retains anti-fraud/manipulation authority.
* **Anti-Money Laundering (AML):** Applies the Bank Secrecy Act to new digital asset intermediaries.
* **Bank Involvement:** Amends the Bank Holding Company Act to allow banks to engage in digital commodity activities.
* **Stablecoins:** Limits agency jurisdiction over payment stablecoins to transactions involving registered entities.
* **Custody:** Creates a qualified digital asset custodian requirement.
In essence, the CLARITY Act seeks to provide regulatory certainty for the digital asset market by clearly defining roles for the SEC and CFTC, focusing on blockchain maturity as a key factor, and establishing a comprehensive regulatory framework for digital commodity trading.
* **Defining Digital Commodities:** The bill defines "digital commodity" as a digital asset intrinsically linked to blockchain use, *excluding* securities, derivatives, and stablecoins. A key component is the concept of a "**mature blockchain**" – one not controlled by a single entity and meeting specific criteria.
* **SEC Role & Exemptions:** The bill offers a limited exemption from SEC registration for fundraising involving digital commodities on mature blockchains (capped at $75 million over 12 months), requiring an "offering statement." Issuers on *immature* blockchains face additional reporting requirements. Existing SEC-registered market participants can trade digital commodities with CFTC notification, provided regulations are consistent.
* **CFTC Authority:** The CFTC gains exclusive regulatory jurisdiction over digital commodity transactions, requiring exchanges, brokers, and dealers to register. It establishes "Core Principles" for these exchanges, covering areas like trade monitoring, conflict of interest, and customer asset protection. Exchanges can only list commodities from mature blockchains or those with compliant issuers.
* **Provisional Registration:** A provisional registration process is established for early compliance while the full framework is implemented.
* **Other Provisions:** The bill also addresses:
* **Decentralized Finance (DeFi):** Excludes DeFi activities from direct regulation but retains anti-fraud/manipulation authority.
* **Anti-Money Laundering (AML):** Applies the Bank Secrecy Act to new digital asset intermediaries.
* **Bank Involvement:** Amends the Bank Holding Company Act to allow banks to engage in digital commodity activities.
* **Stablecoins:** Limits agency jurisdiction over payment stablecoins to transactions involving registered entities.
* **Custody:** Creates a qualified digital asset custodian requirement.
In essence, the CLARITY Act seeks to provide regulatory certainty for the digital asset market by clearly defining roles for the SEC and CFTC, focusing on blockchain maturity as a key factor, and establishing a comprehensive regulatory framework for digital commodity trading.
A small home Bitcoin mining device with a 500GH hash rate has successfully mined a block, earning its owner over $200,000 in BTC.
Improved version of first ESP32 NerdMiner, an open source project that allows you to try to mine Bitcoin with a small piece of hardware.
Guide for setting up the NerdMiner, an educational bitcoin mining device powered by the LILYGO T-Display-S3 ESP32-S3 development board. Detailed steps for both educational and simple setup methods are provided.
Nerd Miners offers Bitcoin lottery miners with plug-and-play functionality for DIY enthusiasts.
Track Bitcoin prices automatically with an ESP32 and an OLED display using MicroPython or Arduino.
/u/BesBesCat writes:
```
JSONVar getBTC() {
String serverPath = "http://api.coindesk.com/v1/bpi/currentprice.json";
jsonBuffer = httpGETRequest(serverPath.c_str());
JSONVar myObject = JSON.parse(jsonBuffer);
return myObject;
}
// Use Coindesk's API instead.
```
/u/BesBesCat writes:
```
JSONVar getBTC() {
String serverPath = "http://api.coindesk.com/v1/bpi/currentprice.json";
jsonBuffer = httpGETRequest(serverPath.c_str());
JSONVar myObject = JSON.parse(jsonBuffer);
return myObject;
}
// Use Coindesk's API instead.
```
frittna 2 months ago @op8
@op8 sorry for the late reply, thank you very much, i still love it to watch the price on it. The M5 core is the regular black framed M5-core and the bottom is the M5GO/FIRE Battery Bottom Charging Base SKU:A014 from this M5-Stack-Shop (do not forget to buy the chargning base plate as i did, these are 2 seperate items to buy) It has the rgb-led strip built-in but it is only barely used in my code.. My Intention was to show major price movements with red/green flashing lights (and sounds) for example. Unfortunately i did not implement more functions since then.
A little problem i have experienced is the wake-up behavour on usb-cable because with the battery base it behaves different as it is with standart battery back. But this can be solved in the code if you change the settings at //Power Settings
@op8 sorry for the late reply, thank you very much, i still love it to watch the price on it. The M5 core is the regular black framed M5-core and the bottom is the M5GO/FIRE Battery Bottom Charging Base SKU:A014 from this M5-Stack-Shop (do not forget to buy the chargning base plate as i did, these are 2 seperate items to buy) It has the rgb-led strip built-in but it is only barely used in my code.. My Intention was to show major price movements with red/green flashing lights (and sounds) for example. Unfortunately i did not implement more functions since then.
A little problem i have experienced is the wake-up behavour on usb-cable because with the battery base it behaves different as it is with standart battery back. But this can be solved in the code if you change the settings at //Power Settings
