- The Clarity Act, a key crypto market infrastructure bill, advanced through two main House committees.
- The House Agriculture Committee approved the bill with a 47-6 vote; the House Financial Services Committee passed it 32-19 after adding amendments.
- Committee leaders from both parties expressed bipartisan support for creating a regulatory framework for digital assets.
- The Senate has not yet published its own version of the bill, although work is ongoing.
- Legislation on stablecoins is further along, with separate bills moving through both the House and Senate.
Two major House committees moved the Clarity Act forward on Wednesday, a bill designed to regulate U.S. crypto market infrastructure. The House Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC), approved the bill with a vote of 47-6. Shortly thereafter, the House Financial Services Committee—responsible for Securities and Exchange Commission (SEC) oversight—passed its own amended version 32-19. Lawmakers must now combine their changes before sending the bill to the full House for a vote.
Committee leaders highlighted support from both parties for regulating digital assets. In an official statement, Financial Services Committee Chair French 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.” He thanked members of both parties for their cooperation.
The Clarity Act aims to bring regulatory clarity to the handling of digital assets, but takes a different approach from last year’s FIT 21 bill, which failed to get Senate approval. Some lawmakers are concerned that the new bill may only regulate a few token types, leaving others without oversight.
The Senate has not yet introduced its own version of the Clarity Act, though Senator Cynthia Lummis said drafting work is in progress.
In contrast, stablecoin legislation—laws that aim to oversee digital assets tied to the value of stable assets like the U.S. dollar—is further ahead in the process. Both the House and Senate have their own bills on the subject. On Monday, Senator John Thune took procedural steps with the GENIUS Act, which will reduce the number of amendments allowed. The Senate may hold a full vote on the bill this week.
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