H.R. 3633 · Passed House · Finance and Financial Sector

Digital Asset Market Clarity Act

Sponsor: J. French Hill (R-AR)

What it does

• Designates the Commodity Futures Trading Commission as the primary federal regulator of digital commodities, defined as digital assets relying on blockchain for value.
• Exempts digital commodities on mature blockchains from Securities and Exchange Commission registration requirements if annual sales fall below a specified threshold and other conditions are met.
• Requires digital commodity exchanges, brokers, and dealers to comply with the Bank Secrecy Act for anti-money laundering and related purposes.
• Establishes requirements for trade monitoring, recordkeeping, and commingling of customer assets for digital commodity transactions.

Official summary

Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025 This bill establishes a regulatory framework for digital commodities, defined by the bill as digital assets that rely upon a blockchain for their value. The Commodity Futures Trading Commission must generally regulate digital commodities transactions, including digital commodity exchanges, brokers, and dealers. To qualify for trade on an exchange (1) a digital commodity’s blockchain must be mature, or on a blockchain system that has achieved decentralized control as defined by the bill; or (2) the issuer of the digital commodity must file certain reports. The bill establishes requirements for trade monitoring, recordkeeping, and the commingling of customer assets. The bill exempts digital commodities on mature blockchains (and digital commodities on blockchains expected to mature within certain timeframes) from Securities and Exchange Commission (SEC) registration requirements if annual sales fall under a certain amount and other requirements are met. The bill provides the SEC with jurisdiction over digital commodity activities and transactions engaged in by certain brokers and dealers on alternative trading…

Latest action

Sep 15, 2026: Motion by Senator Tillis to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 234) entered in Senate.

Committee: Senate Banking, Housing, and Urban Affairs