Digital Asset Market Clarity Act
The source supplies the latest action, but no lifecycle stage.
Latest action (15 Sep 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.
What this bill does
H.R. 3633, the Digital Asset Market Clarity Act (CLARITY Act), would create a comprehensive federal framework for regulating "digital commodities" and related digital-asset activity. The bill amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Commodity Exchange Act to add new definitions—such as "digital commodity," "blockchain system," "mature blockchain system," "decentralized governance system," and "permitted payment stablecoin"—and to divide regulatory jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It sets rules for how digital commodities are offered and sold, establishes registration and provisional registration processes for digital commodity exchanges, brokers, dealers, and other intermediaries, addresses custody requirements, exempts certain decentralized finance activity, preempts some state securities laws for digital commodities, and directs studies on decentralized finance, non-fungible tokens, financial literacy, and market infrastructure.
The bill would primarily affect companies and individuals that issue, trade, or provide services involving digital assets—exchanges, brokers, dealers, custodians, and digital asset issuers—by clarifying which federal regulator oversees them and what registration and disclosure obligations apply. It could also affect investors and users of blockchain-based products by changing how such products are classified and regulated, and it touches banking institutions through provisions on custody and financial activities involving digital assets.
The bill was introduced in the House on May 29, 2025, by Rep. French Hill and referred to the Committees on Financial Services and Agriculture. It has since moved to the Senate, where, on September 15, 2026, a cloture motion to proceed failed on a 49–50 vote. Because cloture requires 60 votes to overcome a potential filibuster, the bill cannot currently advance in the Senate and is considered provisionally dead unless reintroduced or revived through further Senate action.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official 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.
Timeline
15 Sep 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.
Common questions
- What does H.R. 3633 do?
- H.R. 3633, the Digital Asset Market Clarity Act (CLARITY Act), would create a comprehensive federal framework for regulating "digital commodities" and related digital-asset activity. The bill amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Commodity Exchange Act to add new definitions—such as "digital commodity," "blockchain system," "mature blockchain system," "decentralized governance system," and "permitted payment stablecoin"—and to divide regulatory jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It sets rules for how digital commodities are offered and sold, establishes registration and provisional registration processes for digital commodity exchanges, brokers, dealers, and other intermediaries, addresses custody requirements, exempts certain decentralized finance activity, preempts some state securities laws for digital commodities, and directs studies on decentralized finance, non-fungible tokens, financial literacy, and market infrastructure. The bill would primarily affect companies and individuals that issue, trade, or provide services involving digital assets—exchanges, brokers, dealers, custodians, and digital asset issuers—by clarifying which federal regulator oversees them and what registration and disclosure obligations apply. It could also affect investors and users of blockchain-based products by changing how such products are classified and regulated, and it touches banking institutions through provisions on custody and financial activities involving digital assets. The bill was introduced in the House on May 29, 2025, by Rep. French Hill and referred to the Committees on Financial Services and Agriculture. It has since moved to the Senate, where, on September 15, 2026, a cloture motion to proceed failed on a 49–50 vote. Because cloture requires 60 votes to overcome a potential filibuster, the bill cannot currently advance in the Senate and is considered provisionally dead unless reintroduced or revived through further Senate action.
- Has H.R. 3633 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 3633. Check the latest action and official source below.
- Who sponsored H.R. 3633?
- H.R. 3633 was sponsored by Rep. Hill, J. French [R-AR-2] (R-AR), with 21 cosponsors.
- What's the latest action on H.R. 3633?
- 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. (15 Sep 2026).
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