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Digital Asset Market Clarity Act of 2025

9/24/2025, 1:34 PM

Summary of Bill HR 3633

The bill titled "To provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes" was introduced in the 119th Congress with the designation H.R. 3633 on May 29, 2025.

Congressional Summary of HR 3633

Digital 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.

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.

Read the Full Bill

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Current Status of Bill HR 3633

Bill HR 3633 is currently in the status of Introduced to Senate since September 18, 2025. Bill HR 3633 was introduced during Congress 119 and was introduced to the House on May 29, 2025.  Bill HR 3633's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of September 18, 2025

Bipartisan Support of Bill HR 3633

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
68
Democrat Cosponsors
24
Republican Cosponsors
44
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3633

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Advanced technology and technological innovations
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business records
- Computers and information technology
- Currency
- Digital media
- Financial services and investments
- Fraud offenses and financial crimes
- Licensing and registrations
- Securities

Alternate Title(s) of Bill HR 3633

To provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes.
To provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes.

Comments

Carmelo Cummings profile image

Carmelo Cummings

25,492

5 months ago

Ugh, this bill is gonna mess everything up for me. Can't believe they're trying to push this through. Just gonna have to wait and see what happens with it.

Sponsors and Cosponsors of HR 3633

J. French Hill
J. French Hill
ArkansasRepublican
Ritchie Torres
Ritchie Torres
New YorkDemocrat
Glenn Thompson
Glenn Thompson
PennsylvaniaRepublican
Bryan Steil
Bryan Steil
WisconsinRepublican

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