
The U.S. Congress is deliberating the Digital Asset Market Clarity Act of 2025 to establish a statutory division of regulatory authority between the SEC and CFTC over digital assets.
The legislation is being processed by the House Financial Services and Agriculture Committees, the Senate Banking Committee, and the Senate Agriculture Committee, with the White House expressing support.
The bill passed the House in July 2025 and was formally eligible for a Senate floor vote by June 2026, but still requires reconciliation with Senate committee versions and a 60-vote floor passage.
Enactment would grant the CFTC exclusive jurisdiction over digital commodity spot markets while maintaining SEC oversight of investment contract assets, creating a unified federal regulatory framework for crypto.
Note: The market resolves to "No" if the President does not sign the bill by December 31, 2026, regardless of congressional passage.
The U.S. House of Representatives passed the CLARITY Act (H.R.3633) by a vote of 294 to 134, sending it to the Senate for consideration.
lw.combnncpa.comThe Senate Banking Committee advanced the CLARITY Act to the Senate floor in a 15-9 bipartisan vote to reconcile it with the Senate Agriculture Committee’s Digital Commodity Intermediaries Act (S. 3755).
cahill.comA new Senate Banking bill version was published, placing the CLARITY Act on the Senate Legislative Calendar under General Orders (Calendar No. 423), making it formally eligible for full Senate floor consideration.
lw.comThe Senate is expected to schedule a full floor vote on the CLARITY Act following its placement on the General Orders calendar, pending reconciliation negotiations.
lw.comcahill.comThe Senate Banking Committee aims to finalize its version of the CLARITY Act to enable reconciliation with the House-passed version before the year-end deadline.
bnncpa.comAI-generated briefing. AI can make mistakes. This is not financial advice.
The bill has achieved significant bipartisan momentum, passing the House with 294 votes and advancing through the Senate Banking Committee with a 15-9 bipartisan vote, including all Republican members and two Democrats.
lw.comcahill.comThe White House has explicitly expressed support for the legislation, increasing the likelihood of presidential signature if it passes both chambers.
bnncpa.comThe CLARITY Act is formally eligible for full Senate floor consideration as of June 2026, removing prior procedural blockers and placing it on the path for a 60-vote threshold vote.
lw.comAI-generated briefing. AI can make mistakes. This is not financial advice.
The bill must still be reconciled with the Senate Agriculture Committee’s version (S. 3755) and the House-passed version (H.R.3633), a complex legislative process that can stall or alter the bill significantly.
lw.comcahill.comPassage requires a 60-vote supermajority on the Senate floor to overcome potential filibusters, which remains a high hurdle given the sensitivity of crypto regulation debates.
lw.comAs of May 2026, new bill text incorporating accepted Banking Committee amendments had not been published, indicating that the final legislative text remains uncertain and subject to further negotiation.
cahill.comAI-generated briefing. AI can make mistakes. This is not financial advice.