Select Representative Asset Profile
Asset Definition Sandbox Real-Time Parameter Matrix
Decentralization Metric (Howey / CLARITY Test)
42 / 100
0: Pure Centralized Control (SEC)
50: Threshold Boundary
100: Autonomous Code Base (CFTC)
Simulated Market Capitalization ($ USD)
$150.0B
$1B (Emerging)
$50B (Systemic)
$500B (Tier-1 Liquidity)
Issuer Reserve Backing & Attestation Level
100% High-Quality Liquid Assets
50%: Commercial Paper / Unsecured
85%: Mixed T-Bills & Bank Deposits
100%: 1:1 Treasury Repo & Fed Cash
5%: Distributed Nodes
50%: Median
95%: Founder Monopoly
Sponsoring Senate Coalition (7 Members)
Lead Sponsor Sen. Kirsten Gillibrand (D-NY) alongside 6 Democratic colleagues pledging continuous amendment markups despite procedural delays:
★ Sen. K. Gillibrand (Lead Sponsor)
Dem Colleague 1
Dem Colleague 2
Dem Colleague 3
Dem Colleague 4
Dem Colleague 5
Dem Colleague 6
Statutory Determination CALCULATED
Primary Lead Jurisdiction
CFTC & State Regulators
Covered under Section 104 Payment Stablecoin regime. Dual-oversight with state bank supervisors and CFTC anti-fraud authority.
SEC Jurisdiction Risk
Low
Compliance Mandate Tier
Tier 2 Stablecoin Reserve Mandate
CFTC Spot Authority
Enabled
Exemption Route
Sec. 104(b) Direct
CLARITY Act Legislative Timeline
Senate Bipartisan Introduction: Landmark bill draft clarifying SEC vs CFTC authority.
Committee Markup Friction: Banking & Ag committees dispute custody and reserve enforcement provisions.
Recent Dispatch (Sen. Gillibrand): "This week was a setback, but not the end of that important work" — 7-senator commitment solidified.
Statutory Determination Assessment Summary
Reaffirmed commitment by Senator Gillibrand and 6 Democratic colleagues after legislative setbacks.
Evaluated under draft definitions of the Comprehensive Ledger And Regulatory Integrity Transparency (CLARITY) Framework.