U.S. Senate Committee on Banking, Housing and Urban Affairs marks up Digital Asset Market Clarity Act as Warren opposes advancing bill in current form

The U.S. Senate Committee on Banking, Housing and Urban Affairs published Ranking Member Elizabeth Warren’s opening remarks for the markup of H.R.3633, the Digital Asset Market Clarity Act of 2025, in which she urged members not to advance the bill in its current form. Warren argued that the measure would weaken securities law protections for investors, displace state anti-fraud protections for crypto users, increase financial stability and national security risks, and leave ethics issues around officials’ crypto interests unresolved. In her remarks, she said the committee had not held a public hearing on the bill despite requests from several senators and that more than a dozen amendments were ruled out on procedural grounds. Warren pointed to a National Sheriffs Association-backed amendment aimed at closing what she described as a loophole that would make it harder for law enforcement to pursue money laundering through decentralized platforms, and to a community bank proposal intended to limit deposit flight from the banking system. She also cited a recent Treasury Department alert on Iran’s use of crypto businesses to move funds and said earlier Republican promises to fix national security and ethics gaps had not been met. Warren called for debate on all filed Democratic and Republican amendments and said the bill should not move out of committee or to the Senate floor until those issues are addressed.