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Crypto Regulation Measure Advances in the House

By  |  June 11, 2025
Crypto Regulation Measure Advances in the House

Two committees in the House of Representatives voted this week to advance the so-called CLARITY Act intended to create a formal regulatory framework for crypto and digital assets. The Agriculture Committee vote 47-6 in favor of the measure Tuesday, followed by a 32-19 vote in favor on Wednesday by the Financial Services Committee. The bill would establish clear lines of authority among financial regulatory agencies that oversee different types of trading.

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    The two panels separately marked up (i.e. debated and voted on proposed amendments) sections of the bill that fall under their respective jurisdictions: commodities and the Commodities Futures Trading Commission for Agriculture, and securities and the SEC for Financial Services.

    The two versions will now be combined into a single bill that will go to the floor for a vote by the full House.

    Although the bill found bipartisan support on the Agriculture Committee, it faced fierce opposition from Democrats on the Financial Services panel who demanded changes to address what they view as President Trump’s and the Trump family’s corrupt crypto trading.

    “Let’s call this bill what it is: a rushed, complicated and unnecessary legislation that ignores the rampant crypto corruption happening down the street while leaving our nation’s investors out to dry,” ranking member Maxine Waters (D-CA) said in her opening remarks ahead of the vote. “We need to go back to the drawing board on this one.

    Democrats held a minority hearing Friday to highlight the issue. Witnesses in the session included former CFTC chairman Timothy Massad.

    During Wednesday’s markup, however, the committee voted down multiple amendments offered by Democrats.

    Read more: Stablecoin Payments in the U.S. and the EU: Regulatory Considerations and Market Dynamics Following Stripe’s Acquisition of Bridg

    “This bill is not about the personal finances of any one individual,” said committee chair French Hill (R-AR). “It’s not an ethics bill.”

    In a statement following the vote, Hill said, “Blockchain technology and digital assets are reshaping the future of American finance – one that includes a more secure, decentralized, and inclusive system. Congress has a historic opportunity to provide the clear regulatory framework needed to unlock this innovation.”

    The votes to advance the bill drew praise from the crypto community.

    “Today marks a historic moment for the digital asset industry,” Ji Kim, President and acting CEO of the Crypto Council for Innovation, said in a statement.

    “The House Financial Services and Agriculture Committees both advanced the CLARITY Act—a major step toward clear crypto rules that define SEC and CFTC roles, protect self-custody, and safeguard consumers,” Kim added.

    Whether and when the bill will get a vote in the full House is unclear. With the July 4th and August recesses looming, Congress does not have many legislative days left before the fall, and is currently embroiled in a contentious debate of the One Big Beautiful budget bill.

    The Senate is also yet to take up the CLARITY Act. It’s focus this week has been on the so-called GENIUS Act meant to erect guardrails for the issuance of stablecoins pegged to the dollar. The bill passed a procedural step on Monday and a vote by the full Senate could come this week.