The House of Representatives passed the Digital Asset Market CLARITY Act on Thursday with a 294–134 vote, including support from 78 Democrats. The bill represents the first comprehensive effort to regulate the cryptocurrency industry and marks a major legislative victory for crypto advocates. It provides long-awaited clarity by defining the roles of regulators like the SEC and CFTC, and it creates a new category of registered digital assets to help integrate crypto more fully with traditional finance.
Although the bill passed with bipartisan support in the House, its future in the Senate is uncertain. Senators are still in the early stages of drafting their own version and are expected to propose significant revisions. Some Senate Democrats are pressing for the bill to explicitly address President Trump and his family’s cryptocurrency holdings.
This bill follows last year’s failed Senate attempt to advance a similar measure, known as FIT21, which also passed the House with broad Democratic support. The CLARITY Act is part of the House GOP’s broader “Crypto Week” legislative package, which includes two other major digital asset bills aimed at modernizing the regulatory landscape for blockchain and digital finance.
This article was written by Greg Michalowski at www.forexlive.com.