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HR3633

HR3633119th Congress·Introduced 2025-05-29

Is The Bill "CLARITY Act" Crypto Friendly?

Based on 1 published commentary, this bill is very pro-crypto.

Very Pro-Crypto

About this bill

The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.

Official title: Digital Asset Market Clarity Act of 2025

Introduced
Status: Introduced and Sponsored
Legislature: 119th Congress

Stance on Crypto

Very Pro-Crypto

From 1 published commentary

Scores reflect how a bill would affect crypto if enacted, from very anti-crypto to very pro-crypto, based on the commentary below.

Support in Congress

Sponsors1 Republican1
Cosponsors14 Republicans · 6 Democrats20
Voted For265 Republicans · 78 Democrats343
Voted Against178 Democrats · 4 Republicans · 2 Independents184

Read the bill

Read on Congress.gov View on GovTrack Bill text (PDF)

Commentary

DoTheySupportIt

Primary

marked this bill asVery Pro-Crypto

This bill addresses regulatory uncertainty by clearly defining the roles of federal agencies and adapting existing rules to reflect the unique nature of blockchain-based systems.

Clarifies Regulatory Boundaries: Sets clear standards to determine whether a digital asset is regulated by the SEC as an investment contract asset or by the CFTC as a digital commodity. This provides legal certainty for developers, investors, and exchanges.
Grants CFTC Spot Market Authority: The bill gives the CFTC oversight of digital commodity spot markets, closing a key regulatory gap. This authority allows the agency to monitor trading activity and enforce fair practices. It reflects a consistent priority across multiple administrations, from Obama to Biden to Trump.
Updates SEC Oversight: Adjusts registration and disclosure requirements under current securities laws to account for the distinct features of digital assets, ensuring investor protection while encouraging responsible innovation.
Creates a Clear Path for Token Launches: Provides a four-year regulatory window for new token projects to raise up to $75 million per year under SEC supervision. As these projects decentralize and the underlying networks mature, they gain broader access to secondary markets.
Strong Consumer Protections: The bill requires developers to disclose project ownership, governance, and structure. It also mandates that brokers, dealers, and exchanges register, provide customer disclosures, segregate assets, and operate transparently to prevent conflicts of interest.
Strengthens National Security: The bill supports U.S. leadership in digital finance by ensuring blockchain innovation can happen domestically under a clear regulatory framework, rather than being pushed offshore.

Where Congress stands

Every member who has sponsored, cosponsored or voted on this bill. Pick a vote to see how each member voted on it, or narrow by party, name or state.

Sponsors

1

1 Republican

French Hill
AR-2

Cosponsors

20

14 Republicans · 6 Democrats

Republicans14

Nick Begich III
Rep. · AK
Rob Bresnahan
PA-8
Buddy Carter
GA-1
Warren Davidson
OH-8
Tom Emmer Jr.
MN-6
Bill Huizenga
MI-4
Dusty Johnson
Rep. · SD
Mike Lawler
NY-17
Mark Messmer
IN-8
Dan Meuser
PA-9
Riley Moore
WV-2
Zach Nunn
IA-3
Bryan Steil
WI-1
Glenn Thompson
PA-15

Democrats6

Angie Craig
MN-2
Don Davis
NC-1
Josh Gottheimer
NJ-5
Kristen McDonald Rivet
MI-8
Shri Thanedar
MI-13
Ritchie Torres
NY-15

Voted For

343

265 Republicans · 78 Democrats

Senate vote on Sep 15, 2026 · Failed
House vote on Jul 17, 2025 · Passed

Republicans265

Democrats78

Voted Against

184

178 Democrats · 4 Republicans · 2 Independents

Senate vote on Sep 15, 2026 · Failed
House vote on Jul 17, 2025 · Passed

Democrats178

Republicans4

Susan Collins
Senator · ME
Josh Hawley
Senator · MO
Jerry Moran
Senator · KS
Thom Tillis
Senator · NC

Independents2

Angus King Jr.
Senator · ME
Bernie Sanders
Senator · VT