Digital Asset Market Clarity Act

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 .

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 29 May 2025

   Introduced

   Referred 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.

   Source: IntroReferral

2. 29 May 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 29 May 2025

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 June 2025

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 6.

   Source: Committee

5. 10 June 2025

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 23 June 2025

   Calendars

   Placed on the Union Calendar, Calendar No. 134.

   Source: Calendars

7. 23 June 2025

   Reported

   Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.

   Source: Committee

8. 23 June 2025

   Reported

   Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.

   Source: Committee

9. 15 July 2025

   Reported

   Rules 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.

   Source: Floor

10. 17 July 2025

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

11. 17 July 2025

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

12. 17 July 2025

    Vote

    On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). (text of amendment in the nature of a substitute: CR H3373-3397)

    Source: Floor

13. 17 July 2025

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199).

    Source: Floor

14. 17 July 2025

    Floor

    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.

    Source: Floor

15. 17 July 2025

    Floor

    Considered under the provisions of rule H. Res. 580. (consideration: CR H3373)

    Source: Floor

16. 18 September 2025

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

17. 14 May 2026

    Reported

    Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Source: Committee

18. 1 June 2026

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 423.

    Source: Calendars

19. 1 June 2026

    Reported

    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, with an amendment in the nature of a substitute. Without written report.

    Source: Committee

20. 1 June 2026

    Reported

    Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, with an amendment in the nature of a substitute. Without written report.

    Source: Committee

21. 8 August 2026

    Floor

    Motion to proceed to consideration of measure made in Senate. (CR S4557)

    Source: Floor

Votes

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

6 official files

• Reported to Senate

  Reported to Senate · EN · 1 June 2026

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• Referred in Senate

  Referred in Senate · EN · 18 September 2025

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• Engrossed in House

  Engrossed in House · EN · 17 July 2025

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• Reported in House

  Reported in House · EN · 23 June 2025

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• Introduced in House

  Introduced in House · EN · 29 May 2025

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• Introduced in House

  summary · EN · 29 May 2025

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Sponsors

• Rep. Hill, J. French [R-AR-2] · R · Sponsor
• Rep. Thompson, Glenn [R-PA-15] · R · Sponsor
• Rep. Craig, Angie [D-MN-2] · D · Sponsor
• Rep. Emmer, Tom [R-MN-6] · R · Sponsor
• Dusty Johnson · R · Sponsor
• Rep. Davis, Donald G. [D-NC-1] · D · Sponsor
• Rep. Steil, Bryan [R-WI-1] · R · Sponsor
• Rep. Torres, Ritchie [D-NY-15] · D · Sponsor
• Rep. Davidson, Warren [R-OH-8] · R · Sponsor
• Rep. Gottheimer, Josh [D-NJ-5] · D · Cosponsor
• Rep. Huizenga, Bill [R-MI-4] · R · Cosponsor
• Rep. Nunn, Zachary [R-IA-3] · R · Cosponsor
• Rep. Lawler, Michael [R-NY-17] · R · Cosponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Cosponsor
• Rep. Carter, Earl L. "Buddy" [R-GA-1] · R · Cosponsor
• Rep. Moore, Riley M. [R-WV-2] · R · Cosponsor
• Rep. Begich, Nicholas J. [R-AK-At Large] · R · Cosponsor
• Rep. McDonald Rivet, Kristen [D-MI-8] · D · Cosponsor
• Rep. Thanedar, Shri [D-MI-13] · D · Cosponsor
• Rep. Messmer, Mark B. [R-IN-8] · R · Cosponsor
• Rep. Bresnahan, Robert P. [R-PA-8] · R · Cosponsor
• Rep. Stevens, Haley M. [D-MI-11] · D · Cosponsor
• · ssbk00 · Standing
• · hsba00 · Standing
• · hsag00 · Standing

Related records

• related to ← Securing Innovation in Financial Regulation Act
• related to ← Providing for consideration of the bill (H.R. 4016) making appropriations for the Department of Defense for the fiscal year ending September 30, 2026, and for other purposes; providing for consideration of the bill (H.R. 3633) to provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes; providing for consideration of the bill (H.R. 1919) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; providing for consideration of the bill (S. 1582) to provide for the regulation of payment stablecoins, and for other purposes; and waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules.
• related to ← Providing for consideration of the bill (H.R. 4922) to limit youth offender status in the District of Columbia to individuals 18 years of age or younger, to direct the Attorney General of the District of Columbia to establish and operate a publicly accessible website containing updated statistics on juvenile crime in the District of Columbia, to amend the District of Columbia Home Rule Act to prohibit the Council of the District of Columbia from enacting changes to existing criminal liability sentences, and for other purposes; providing for consideration of the bill (H.R. 5143) to establish standards for law enforcement officers in the District of Columbia to engage in vehicular pursuits of suspects, and for other purposes; providing for consideration of the bill (H.R. 5140) to lower the age at which a minor may be tried as an adult for certain criminal offenses in the District of Columbia to 14 years of age; providing for consideration of the bill (H.R. 5125) to amend the District of Columbia Home Rule Act to terminate the District of Columbia Judicial Nomination Commission, and for other purposes; providing for consideration of the bill (H.R. 1047) to require the Federal Energy Regulatory Commission to reform the interconnection queue process for the prioritization and approval of certain projects, and for other purposes; providing for consideration of the bill (H.R. 3015) to reestablish the National Coal Council in the Department of Energy to provide advice and recommendations to the Secretary of Energy on matters related to coal and the coal industry, and for other purposes; providing for consideration of the bill (H.R. 3062) to establish a more uniform, transparent, and modern process to authorize the construction, connection, operation, and maintenance of international border-crossing facilities for the import and export of oil and natural gas and the transmission of electricity; and for other purposes.
• amends ← Pursuant to the provisions of H. Res. 580, in lieu of the amendments in the nature of a substitute recommended by the Committees on Agriculture and Financial Services now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 119-6, modified by the amendment printed in part B of House Report 119-199 is considered adopted.
• amends ← SAMDT 6771
• amends ← SAMDT 6772