The House Financial Services Committee has scheduled a hearing on the Digital Asset Market Clarity Act (H.R. 3633) for July 17 in New York.
First introduced by House Financial Services Chairman French Hill on 29 May 2025, The law of clarity It is the most significant attempt to date to build a permanent regulatory framework for digital assets in the United States.
Its central mechanism is a jurisdictional split: the Commodity Futures Trading Commission (CFTC) will have exclusive authority over spot markets for “digital commodities” — most notably Bitcoin — while the Securities and Exchange Commission (SEC) will retain jurisdiction over digital assets that qualify as investment contracts.
This division has been the source of years of frustration in the industry. In the absence of clear lines, companies faced overlapping implementation from both agencies, which discouraged innovation and pushed development outward. SEC and Treasury Department officials urged Congress must resolve the crisis, and the CLARITY Act represents the most realistic way to do so.
The bill gained momentum during the 119th Congress. Senate Banking Committee The Clarity Act was introduced 15-9 on May 14With all 13 Republicans joined by two Democrats — although several committee members indicated their votes did not guarantee support for the bottom line without further work on an ethics provision addressing government officials’ financial ties to cryptocurrency assets.
By June 1, the bill had reached the Senate Legislative Calendar under General Orders (Calendar No. 423), making it officially eligible for full Senate consideration.
The road ahead is not without friction. The bill still needs to pass the 60-vote threshold in the Senate, be matched with the Senate Agriculture Committee’s version, and then be aligned with the text approved by the House of Representatives before heading to the president’s desk.
the Previously passed the house A proposal to strengthen the CLARITY Act alongside the GENIUS Act and anti-cryptocurrency provisions for central banks, indicating broad legislative appetite for a package approach.
More than 100 crypto companies They urged the Senate to move forward with the billAnd despite some early disagreements over developer responsibility language — Coinbase briefly threatened to withdraw support -The industry alliance has remained largely cohesive.
Galaxy Research currently estimates a 60-75% chance the bill will become law in 2026, anticipating a possible presidential signature during the week of August 3. The July 17 hearing is expected to be a decisive signal on whether that timeline will hold.
The Senate passes the housing law and advances the CLARITY Act
In a somewhat important parallel development, the Senate Pass The Path to 21st Century Housing Act passed in an 85-5 vote on June 22 – and inside the housing supply legislation is a provision that says… The Federal Reserve prohibits From the issuance of a central bank digital currency (CBDC) until the end of 2030.
The bill’s language is straightforward: The Federal Reserve may not “issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly through a financial institution or other intermediary” — until December 31, 2030.
It was home It has already passed an anti-CBDC measure Along with the vote on the GENIUS Act, an earlier version of the housing legislation won House approval by a vote of 390-9 in February.
House GOP leaders have signaled plans to hold a quick vote on the amended bill by the Senate when the chamber returns from recess on June 23.
With support from the White House and near-unanimous support from the Senate, a ban on central bank digital currencies (CBDC) now seems likely to reach the president’s desk tied to must-pass housing reform.
