On May 29, 2025, bipartisan lawmakers introduced the Digital Asset Market Clarity Act, aimed at establishing a unified federal regulatory framework for cryptocurrencies.

The 249-page bill, introduced by House Financial Services Committee Chairman French Hill, proposes to shift the oversight of most cryptocurrencies to the Commodity Futures Trading Commission (CFTC).

The CLARITY Act gives the CFTC exclusive regulatory jurisdiction over digital commodity markets, which constitute the majority of crypto activity as understood by U.S. regulators.

Congress has been actively pursuing regulation of the crypto industry, with market structure and stablecoin bills as key areas of focus.

This legislation marks a significant step toward formalizing the oversight of the rapidly growing digital asset market, providing clarity and stability.

The CLARITY Act has bipartisan support, including three Democratic co-sponsors, and addresses oversight roles of the SEC and CFTC for digital assets.

Native crypto exchanges must register with the CFTC within 180 days and join a self-regulatory organization, while bank-regulated payment stablecoins remain outside commodity rules.

New compliance requirements for brokers and dealers will include customer disclosures, asset segregation, and measures to mitigate conflicts of interest.

The framework seeks to establish guidelines for digital asset transactions, aiming to protect investors and prevent fraud.

If enacted, the involved regulators would have one year to implement the Clarity Act's market structure rules, a challenging timeline for financial regulations.

The Act mandates that developers provide comprehensive disclosures about their projects, including operations, ownership, and structure.

The bill was developed in the House Committee on Financial Services, which had previously worked on the FIT21 Act that passed the House but stalled in the Senate.