Congress 119 - HR 3633 - Digital Asset Market Clarity Act

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Advanced technology and technological innovations Bank accounts, deposits, capital Banking and financial institutions regulation Business records Computer security and identity theft Computers and information technology Currency Data collection, sharing, protection Digital media Finance and Financial Sector Financial services and investments Fraud offenses and financial crimes Licensing and registrations Securities

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Summary

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.

Actions

Sep 15, 2026

Motion by Senator Tillis to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 234) entered in Senate.
Sep 15, 2026

Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 49 - 50. Record Vote Number: 234.
Aug 8, 2026

Cloture motion on the motion to proceed to the measure presented in Senate.
Aug 8, 2026

Motion to proceed to consideration of measure made in Senate.
Aug 8, 2026

Cloture motion on the motion to proceed to the measure presented in Senate. (CR S4557)
Aug 8, 2026

Motion to proceed to consideration of measure made in Senate. (CR S4557)
Jun 1, 2026

Placed on Senate Legislative Calendar under General Orders. Calendar No. 423.
Jun 1, 2026

Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, with an amendment in the nature of a substitute. Without written report.
May 14, 2026

Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Sep 18, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 17, 2025

DEBATE - The House proceeded with one hour of debate on H.R. 3633.
Jul 17, 2025

Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
Jul 17, 2025

Motion to reconsider laid on the table Agreed to without objection.
Jul 17, 2025

Considered under the provisions of rule H. Res. 580. (consideration: CR H3373)
Jul 17, 2025

On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). (text of amendment in the nature of a substitute: CR H3373-3397)
Jul 17, 2025

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199).
Jul 17, 2025

Considered as unfinished business. (consideration: CR H3449)
Jul 17, 2025

POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 3633, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Craig demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Jul 17, 2025

The previous question was ordered pursuant to the rule.
Jul 17, 2025

Considered as unfinished business. (consideration: CR H3449: 1)
Jul 15, 2025

Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
Jun 23, 2025

Placed on the Union Calendar, Calendar No. 134.
Jun 23, 2025

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-168, Part II.
Jun 23, 2025

Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I.
Jun 10, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 6.
Jun 10, 2025

Committee Consideration and Mark-up Session Held
Jun 10, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 19.
May 29, 2025

Introduced in House
May 29, 2025

Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Amendments

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