U.S. House Financial Services Committee highlights bipartisan House passage of the CLARITY Act for digital asset market structure

The U.S. House Financial Services Committee published a roundup of external statements backing the House of Representatives’ bipartisan passage of Chairman French Hill’s H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act, which cleared the House by 294–134. Supporters characterised the bill as establishing a clearer legal and regulatory framework for U.S. digital asset markets and providing more certainty for firms and consumers. Commenters highlighted the bill’s approach to delineating oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission based on a digital asset’s function, and cited provisions aimed at strengthening disclosures and safeguarding customer funds. Several statements pointed to governance and risk management expectations for digital commodity exchanges, segregation of customer funds, bankruptcy-related procedures, conflict-of-interest controls, and risk disclosures relating to operations, ownership, and structure, with the Institute of Internal Auditors specifically citing Sections 404 and 406 as key investor protections. Others referenced a standard for assessing when a digital asset can transition from being treated as a security to being treated as a commodity. The release frames House passage as moving the CLARITY Act to the Senate, with multiple stakeholders urging further legislative action and continued engagement as the bill advances.