16 lines
836 B
Markdown
16 lines
836 B
Markdown
---
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title: NASAA Clarity Act Concerns
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domain: internet-finance
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extraction_notes: ""
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enrichments_applied: []
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...
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processed_by: rio
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processed_date: 2026-03-23
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enrichments_applied: ["the SEC three-path safe harbor proposal creates the first formal capital formation framework for crypto that does not require securities registration.md", "futarchy-governed entities are structurally not securities because prediction market participation replaces the concentrated promoter effort that the Howey test requires.md"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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---
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## Key Facts
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- NASAA issued a public statement opposing the Clarity Act on 2026-01-13
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- NASAA represents state securities regulators across North America
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- State securities regulators have historically maintained concurrent jurisdiction with federal securities regulation
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