H.R. 3633
IntroducedDigital Asset Market Clarity Act
Latest Action
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.
9/15/2026 • Senate
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.
Introduced in House • 5/29/2025
Topics & Subjects
CBO Cost Estimates (1)
Amendments (3)
This bill has 3 amendments proposed or adopted.
View all amendments on Congress.govCongressional Votes (2)
On Cloture on the Motion to Proceed
September 15, 2026
On Passage
July 17, 2025
Related Federal Spending
Sponsor & Cosponsors (22)
Party Breakdown
Sponsor
Cosponsors (21)
Bill Journey
Originated in the House
Introduced
May 29, 2025
Committee Review
June 10, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 19.
Floor Debate
July 17, 2025
Passed Chamber
July 17, 2025
Other Chamber
President
Enacted into Law
Text Versions (5)
Committee Reports (2)
Related Bills (3)
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H.R. 3690
Securing Innovation in Financial Regulation Act
H.Res. 580
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.