US lawmakers have reintroduced the Securities Clarity Act, which aims to clarify how digital assets are labeled. The bill proposes a new term, "investment contract asset," to distinguish assets from the securities contracts they are part of. Without this distinction, token projects that have to raise capital in the early stages will not be able to move out of the securities framework once the project is decentralized, which will harm token holders. The bill has received support from crypto advocacy groups in Washington D.C. and is seen as crucial legislation that provides much-needed certainty for investors, consumers, and businesses.