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H.R. 3633119th CongressFinance and Financial Sector
Digital Asset Market Clarity Act
Sponsored by Rep. J. French Hill (R-AR) · 21 active : 14 Republicans, 7 Democrats
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.
Where it standsPassed House, now in the Senate9 senators score as swing votes
Passed House
- House: passedJul 17, 2025
- Senate: next
- President: not yet
Summary
, via Congress.govDigital 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.
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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
Committees and subjects
Committees
- House Committee on Agriculture · HouseReported by · Markup by · Referred to
- House Committee on Financial Services · HouseReported by · Markup by · Referred to
- Senate Committee on Banking, Housing, and Urban Affairs · SenateReported by · Markup by · Referred to
Subjects
- Advanced technology and technological innovations
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business records
- Computer security and identity theft
- Computers and information technology
- Currency
- Data collection, sharing, protection
- Digital media
- Financial services and investments
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 9Swing 70–100
- 71Middle 30–70
- 20Entrenched 0–30
Members fall into . All 100 senators have enough data to score.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
21 activeShow all 21 cosponsors
- Angie Craig (D-MN-2)
- Bryan Steil (R-WI-1)
- Donald G. Davis (D-NC-1)
- Dusty Johnson (R-SD-AL)
- Glenn Thompson (R-PA-15)
- Ritchie Torres (D-NY-15)
- Tom Emmer (R-MN-6)
- Warren Davidson (R-OH-8)
- Josh Gottheimer (D-NJ-5)
- Bill Huizenga (R-MI-4)
- Daniel Meuser (R-PA-9)
- Earl L. "Buddy" Carter (R-GA-1)
- Kristen McDonald Rivet (D-MI-8)
- Mark B. Messmer (R-IN-8)
- Michael Lawler (R-NY-17)
- Nicholas J. Begich (R-AK-AL)
- Riley M. Moore (R-WV-2)
- Robert P. Bresnahan (R-PA-8)
- Shri Thanedar (D-MI-13)
- Zachary Nunn (R-IA-3)
- Haley M. Stevens (D-MI-11)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
