The House Financial Services Committee has scheduled a hearing on the Digital Asset Market Clarity Act (HR 3633) on July 17 in New York.
First introduced and Chairman of House Financial Services in French Hill on May 29, 2025, a CLARITY Act it is the most important attempt yet to create a sustainable digital content system in the United States.
Its central approach is a regulatory one: The Commodity Futures Trading Commission (CFTC) will gain sole jurisdiction over online markets for “digital assets” – particularly Bitcoin – while the Securities and Exchange Commission (SEC) retains jurisdiction over digital assets that are supposed to be financial contracts.
That division has been the source of years of industrial turmoil. Without clear lines of business, businesses will face increasing pressure from both organizations, controlling innovation and pushing development to the surface. SEC and Treasury officials have recommended Congress to end the conflict, and the CLARITY Act represents an excellent vehicle for doing so.
The bill has been steadily progressing through the 119th Congress. Senate Banking Committee passed the CLARITY Act 15-9 on May 14with all 13 Republicans joined by two Democrats – although several members of the committee felt that their votes did not guarantee support on the floor without another work related to the law on the financial relations of government officials to crypto assets.
As of June 1, the bill reached the Senate Legislative Calendar under General Orders (Calendar No. 423), making it eligible for full consideration.
The way forward is not without controversy. The legislation still needs to clear 60 votes in the Senate, be reconciled by the Senate Agriculture Committee, and then be approved by the House before going to the President’s desk.
The The house is already gone a petition to advance the CLARITY Act along with the GENIUS Act and Anti-CBDC legislation, which shows an interest in law enforcement.
Over 100 crypto companies He has urged the Senate to advance the billand even the initial debate over the programming language – Coinbase briefly threatened to withdraw support – the company’s cooperation has been very close.
Galaxy Research is currently estimating a 60-75% chance that the bill will become law in 2026, indicating the president’s signature during the week of August 3. The July 17 hearing is expected to be an important indicator of whether this time frame works.
The Senate passes the House Bill and pushes through the CLARITY Act
In other similar cases, the Senate it has passed 21st Century ROAD to Housing Act in a vote of 85-5 on June 22 – and embedded within the housing law is the part that restricts the Federal Reserve from issuing central bank digital currency (CBDC) to the end of 2030.
The bill’s language is specific: the Fed “may not issue or create central bank digital currency or any digital asset that is substantially similar to central bank digital currency directly or indirectly through a financial institution or other intermediary” — until December 31, 2030.
The house was already passed the Anti-CBDC measure aside from his vote for the GENIUS Act, and an earlier version of the House bill he cleared the House 390-9 in February.
House GOP leaders signed off on plans to quickly vote on a revised Senate bill when the chamber returns from recess on June 23.
With the support of the White House and the support of the Senate together, the ban on CBDC now seems likely to reach the desk of the President who should advance the housing reform.
