The CLARITY Act – Crypto’s Final Push for Regulatory Clarity

The Digital Asset Market Clarity Act (H.R. 3633) represents Congress's most comprehensive effort to delineate regulatory jurisdiction over US crypto markets. By assigning the Commodity Futures Trading Commission (CFTC) oversight of digital commodity spot markets and leaving securities to the SEC, the bill aims to resolve years of legal ambiguity. The House passed the measure in July 2025 with strong bipartisan support (294-134), positioning it as the cornerstone of a federal crypto framework alongside the GENIUS Act's stablecoin rules.

Despite clearing the Senate Banking Committee on May 14 (15-9 vote), the legislation faces an uncertain future. While now eligible for a floor vote as Calendar No. 423, no debate date has been set—a critical hurdle with the legislative clock ticking. The White House's engagement suggests political will exists, but the window for action is narrowing.