Digital Asset Market Clarity Act of 2025
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 systems and by national securities exchanges.
Digital commodity exchanges, brokers, and dealers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.
The bill also sets forth requirements for alternative trading systems, previously issued digital commodities, and provisional registration until the bill is implemented.
For more information on this bill, see CRS Insight IN12583, Crypto Legislation: An Overview of H.R. 3633, the CLARITY Act.
Floor Votes
Timeline
- May 14, 2026Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Sep 18, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jul 17, 2025Motion to reconsider laid on the table Agreed to without objection.
- Jul 17, 2025On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). (text of amendment in the nature of a substitute: CR H3373-3397)
- Jul 17, 2025Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199).
- Jul 17, 2025Considered as unfinished business. (consideration: CR H3449)
- Jul 17, 2025POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 3633, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Craig demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
- Jul 17, 2025The previous question was ordered pursuant to the rule.
- Jul 17, 2025DEBATE - The House proceeded with one hour of debate on H.R. 3633.
- Jul 17, 2025Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
- Jul 17, 2025Considered under the provisions of rule H. Res. 580. (consideration: CR H3373)
- Jul 15, 2025Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
- Jun 23, 2025Placed on the Union Calendar, Calendar No. 134.
- Jun 23, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-168, Part II.
- Jun 23, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-168, Part II.
- Jun 23, 2025Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.
- Jun 23, 2025Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.
- Jun 10, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 19.
- Jun 10, 2025Committee Consideration and Mark-up Session Held
- Jun 10, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 6.
- Jun 10, 2025Committee Consideration and Mark-up Session Held
- May 29, 2025Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- May 29, 2025Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- May 29, 2025Introduced in House
- May 29, 2025Introduced in House
Cosponsors
- Rep. Thompson, Glenn [R-PA-15] R-PA
- Rep. Craig, Angie [D-MN-2] D-MN
- Rep. Emmer, Tom [R-MN-6] R-MN
- Rep. Johnson, Dusty [R-SD-At Large] R-SD
- Rep. Davis, Donald G. [D-NC-1] D-NC
- Rep. Steil, Bryan [R-WI-1] R-WI
- Rep. Torres, Ritchie [D-NY-15] D-NY
- Rep. Davidson, Warren [R-OH-8] R-OH
- Rep. Gottheimer, Josh [D-NJ-5] D-NJ
- Rep. Huizenga, Bill [R-MI-4] R-MI
- Rep. Nunn, Zachary [R-IA-3] R-IA
- Rep. Lawler, Michael [R-NY-17] R-NY
- Rep. Meuser, Daniel [R-PA-9] R-PA
- Rep. Carter, Earl L. "Buddy" [R-GA-1] R-GA
- Rep. Moore, Riley M. [R-WV-2] R-WV
- Rep. Begich, Nicholas J. [R-AK-At Large] R-AK
- Rep. McDonald Rivet, Kristen [D-MI-8] D-MI
- Rep. Thanedar, Shri [D-MI-13] D-MI
- Rep. Messmer, Mark B. [R-IN-8] R-IN
- Rep. Bresnahan, Robert P. [R-PA-8] R-PA
- Rep. Stevens, Haley M. [D-MI-11] D-MI
In the News
- What’s Next for Housing Legislation in the 119th Congress? - Bipartisan Policy Center
- CLARITY ACT Updates, Deadline and Odds of Passing - DeFi Rate
- Crypto Comes of Age in 2025: Epic Strides in U.S. Regulation, but with Miles to Go - Kroll
- Crypto Legislation: An Overview Of H.R. 3633, The CLARITY Act – Analysis - Eurasia Review
- Crypto CLARITY: The Politics, Policy and Implications of Digital Assets Regulatory Framework Legislation in the 119th Congress - Akin
- Congress Vote: The House has passed H.R. 3633 - CLARITY Act of 2025 - Quiver Quantitative
- Key Vote Alert – House – YES – HR.3633, CLARITY Act - Club for Growth
- Rules Committee Hearing H.R. 1919, 3633, 4016, and S. 1582 - House.gov
- Congress Set to Bring CLARITY to Digital Asset Market Structure - WilmerHale
- Bipartisan Majorities in Two House Committees Vote to Advance the Digital Asset Market CLARITY Act of 2025 - Morgan Lewis
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