Woofun AI reports that Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission, declared the CLARITY Act as "legislation that must be passed" to sustain the United States' position as a global cryptocurrency hub. Selig emphasized that the bill establishes a comprehensive regulatory framework, providing "forward-looking" rules necessary for digital asset innovation and market safety. The legislation aims to clarify regulatory responsibilities and define market structure, thereby reducing uncertainty for businesses and capital within the U.S. market.