H.R. 3633: Digital Asset Market Clarity Act

119th Congress · Sponsored from Arkansas · In progress

What this bill does

Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025This 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.

Key facts

• Status In progress
• Introduced 2025-05-29
• Policy area Finance and Financial Sector
• Cosponsors 21
• Latest action Placed on Senate Legislative Calendar under General Orders. Calendar No. 423.

Sponsor

Rep. Hill, J. French [R-AR-2]

Lead sponsor · Arkansas

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Who funds the sponsor?

Rep. Hill, J. French [R-AR-2] introduced H.R. 3633. On Voterly you can see their top campaign donors from public Federal Election Commission records — individuals, PACs, and industry groups (follow the money) — and compare that with how they vote.

See Rep. Hill, J. French [R-AR-2]'s donors & voting record →

Campaign donations show who helps fund the sponsor's election; they are not the same as who drafted or lobbied for the bill text. Lobbying disclosures are separate public records.

Take a position & compare alignment

Agree or disagree with H.R. 3633? Go to the homepage to record your view and compare your stance with how your representatives vote. See Rep. Hill, J. French [R-AR-2]'s profile to vote on their bills and check your alignment % with the sponsor.

Read the official text on Congress.gov →