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Republican lawmakers introduced long-anticipated legislation Thursday that would create a regulatory framework for permitted payment stablecoins and other digital assets, but the bill still has several hurdles to clear in Congress. The Digital Asset Market Clarity Act, also known as the CLARITY Act, aims to eliminate a blind spot in regulatory oversight by making a clear distinction between digital assets, which the Securities and Exchange Commission, or SEC, would supervise for a variety of purposes, and digital commodities, which would fall to the Commodity Futures Trading Commission. More specifically, the legislation, which House Financial Services Chairman French Hill (R-AR) authored,...