The White House will host law enforcement groups to discuss the Digital Asset Market Clarity Act on June 10, journalist Eleanor Terrett reported. The CLARITY Act is a U.S. legislation that es
The White House will host law enforcement groups to discuss the Digital Asset Market Clarity Act on June 10, journalist Eleanor Terrett reported.
The CLARITY Act is a U.S. legislation that establishes a comprehensive regulatory framework to define jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), classifying crypto assets as securities or commodities.
Related: 'Biggest regulatory bill since Dodd-Frank' added to Senate calendar
One major provision of the legislation that is going to be discussed at the White House is regarding developer protections derived from the Blockchain Regulatory Certainty Act.
Law enforcement groups fear the provision could make it harder to combat illicit finance, Terrett added.
The White House meeting will take place only days after more than 200 crypto companies and organizations wrote a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer to urge them to schedule the CLARITY Act for a full Senate vote.
Signatories include leading crypto companies like Coinbase (Nasdaq: COIN), Circle (NYSE: CRCL), Ripple, Kraken, Andreessen Horowitz, Binance.US, Multicoin Capital, Riot Platforms (Nasdaq: RIOT), and Uniswap Labs.
The letter emphasized that the legislation would establish a comprehensive framework for crypto markets, clarify regulatory responsibilities, and maintain protections for software developers.
Ahead of the White House meeting on June 10, a mysterious trader opened a multimillion-dollar position on Ethereum (ETH) on Hyperliquid.
Hyperliquid is a decentralized crypto trading exchange built primarily for perpetual futures that has gained immense popularity among retail traders.
While Hyperliquid traders can't be identified by name, their blockchain wallet addresses are public.
This is exactly why they are called "mysterious traders" because though nobody knows their names, their trades can be tracked on-chain.
Source: Hypurrscan The trader, with the wallet address "0x5e3ebe242a4b49a8e7eeb9a64e967e67b95f97f8," recently opened a 20-times leveraged long position on 8,836 Ether worth $14.56 million, as per Hypurrscan.
ETH/USD, Source: DecibelEthereum was trading at $1,643.50 at press time, as per Decibel.
Related: Mysterious trader burns $8 million as market crashes
