U.S. Congressman French Hill has officially announced the introduction of the highly anticipated Digital Asset Market Structure Act. This legislation, titled the "2025 Digital Asset Market Clarity Act" or "2025 CLARITY Act," has garnered bipartisan support, including three Democratic co-sponsors.
The bill clearly defines the roles of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the regulation of digital assets, aiming to resolve the long-standing debate over which agency should oversee which types of digital assets.
"I am honored to introduce this bipartisan CLARITY Act with my colleagues," Hill stated in an official announcement on May 29. "Our bill brings much-needed regulatory clarity to the digital asset ecosystem, prioritizing consumer protection and American innovation, and continuing the work we accomplished in the 118th Congress."
Under the CLARITY Act, developers will be required to provide accurate and relevant disclosures detailing the operational mechanisms, ownership structures, and organizational frameworks of their projects.
The bill also introduces new compliance requirements for customer-facing institutions, such as brokers and dealers, including clear disclosures to clients, strict separation of client assets from company funds, and the elimination of potential conflicts of interest through rigorous registration systems, transparency standards, and operational norms.
Additionally, the bill establishes a "comprehensive registration system" that allows digital asset companies to legally provide services to clients in the U.S. market.
"The CLARITY Act will provide the clear regulatory rules that entrepreneurs, investors, and consumers deserve," Congressman Ritchie Torres emphasized in a statement.
The bill was introduced by the House Financial Services Committee, which had previously worked on the FIT21 bill that passed the House but stalled in the Senate. The hearing for the digital asset market structure bill was initially launched in April by the Subcommittee on Digital Assets, Financial Technology, and Inclusion.
Market structure and stablecoin legislation have long been legislative priorities for Congress, which has been working to establish a regulatory framework for the burgeoning cryptocurrency industry.
Congressman Ro Khanna stated in March that Congress "should be able" to complete the legislative work on the stablecoin and market structure bills this year. The stablecoin bill, known as the GENIUS Act, is set to face a full Senate vote after passing procedural votes in early May.
The Trump administration has been pushing for the passage of the GENIUS Act, with Treasury Secretary Scott Bessent and cryptocurrency special advisor David Sacks publicly voicing their support. The bill initially lost key Democratic support in May due to protests from Democrats regarding President Donald Trump's association with cryptocurrency.
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Original article: “U.S. Bipartisan Lawmakers Jointly Propose Digital Asset Regulatory Framework”
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