Digital Asset Market Clarity Act
Also known as Anti-CBDC Surveillance State Act
Where it stands
- Introduced5/29/25
- Passed HousePassed 7/17/25
- Senate
- President
- Law
Passed the House 294–134 on July 17, 2025 (Roll Call 199 →). Received in the Senate on September 18, 2025.
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Roll calls on this bill
- Democratic78 Yea · 134 Nay · 0 Not voting
- Republican216 Yea · 0 Nay · 4 Not voting
- Independent / Other0 Yea · 0 Nay · 0 Not voting
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.
21
5/29/25
What happens next
The Senate must pass the same text, then it goes to the President.
If it isn't enacted by Jan 3, 2027, it expires when the 119th Congress ends.
All actions (26)
- 5/29/25Introduced in House
- 5/29/25Referred 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.
- 6/10/25Committee Consideration and Mark-up Session Held
- 6/10/25Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 6.
- 6/10/25Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 19.
- 6/23/25Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.
- 6/23/25Reported (Amended) by the Committee on Financial Services. H. Rept. 119-168, Part II.
- 6/23/25Placed on the Union Calendar, Calendar No. 134.
- 7/15/25Rules 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.
- 7/17/25Considered under the provisions of rule H. Res. 580. (consideration: CR H3373)
- 7/17/25Rule 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.
- 7/17/25DEBATE - The House proceeded with one hour of debate on H.R. 3633.
- 7/17/25The previous question was ordered pursuant to the rule.
- 7/17/25POSTPONED 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.
- 7/17/25Considered as unfinished business. (consideration: CR H3449)
- 7/17/25Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199).
- 7/17/25On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). (text of amendment in the nature of a substitute: CR H3373-3397)
- 7/17/25Motion to reconsider laid on the table Agreed to without objection.
- 9/18/25Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 5/14/26Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- 6/1/26Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, with an amendment in the nature of a substitute. Without written report.
- 6/1/26Placed on Senate Legislative Calendar under General Orders. Calendar No. 423.
- 8/8/26Motion to proceed to consideration of measure made in Senate. (CR S4557)
- 8/8/26Cloture motion on the motion to proceed to the measure presented in Senate. (CR S4557)
- 9/15/26Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 49 - 50. Record Vote Number: 234. (CR S4706)
- 9/15/26Motion 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.