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US Congress introduces groundbreaking crypto law!
US House of Representatives presents the “Digital Asset Market Clarity Act” to reform crypto regulation and create legal certainty.
US Congress introduces groundbreaking crypto law!
On May 29, 2025, members of the US House of Representatives introduced the Digital Asset Market Clarity Act (CLARITY), a comprehensive bill to regulate the crypto market in the United States. The aim of the law is to create a formal framework for the legalization of cryptocurrencies. This comprehensive 236-page act is considered a successor to the previously proposed Financial Innovation and Technology for the 21st Century Act (FIT21), which received support from both political camps. BTC-ECHO reports that…
The CLARITY Act would retroactively change the most fundamental securities laws in the United States. As a result, most crypto assets should be expressly excluded from the definition of securities. This would end oversight by the Securities and Exchange Commission (SEC) and allow the Commodity Futures Trading Commission (CFTC) to take over regulation of most crypto assets. Cryptocurrencies such as Bitcoin and Ethereum would thus be regulated like commodities, marking a significant shift in previous regulatory practice. Yahoo Finance informs that...
Regulatory changes
A key consideration of the law is the regulation of cryptocurrency custodians. In the future, these will be subject to “appropriate supervision and appropriate regulation”. The law also proposes a definition for the degree of decentralization and the “maturity” of a blockchain. A blockchain must be open source, automated and not controllable by a single company or organization. At the same time, no single person or organization may own more than 20 percent of the asset. The decentralized finance (DeFi) sector is not regulated for now, but the SEC, CFTC and Treasury are expected to submit a report on it in the near future.
Another important aspect of the CLARITY Act is that crypto platforms have the choice to register with either the CFTC or the SEC, depending on the digital assets they trade. While the CFTC develops rules for digital commodity exchanges, brokers or traders, the platforms are allowed to register provisionally. In addition, the platforms are required to comply with the Bank Secrecy Act and are regulated as financial companies.
Additional requirements
The law sets standards for “qualified digital asset managers” under the supervision of the CFTC. Regulators will have one year to implement the CLARITY Act's market structure rules if it passes. Decision-making authority over payment tablecoins is assigned to the respective regulatory authority that oversees the company involved. The discussion about possible combinations of stablecoin and market structure laws also continues.
One potential obstacle is uncertainty over coordination between House and Senate bills on stablecoins and market structure. The Senate plans to consider stablecoin legislation next week that already has bipartisan support but faces concerns from Democrats. Former President Trump has called for both the stablecoin and market structure bills to be on his desk in Congress by the summer recess.
House committees will also hold hearings on digital assets next week to discuss the new legislation. This could be the start of long-running negotiations in Congress and shows the growing interest in clear legal regulation in the crypto market.