The U.S. House Committee on Financial Services held a hearing to examine H.R. 3633, the CLARITY Act of 2025, as a vehicle to create a federal regulatory framework for digital asset market structure in the United States. Committee leaders framed the bill as a way to replace what they described as confusing and inconsistent rules with clearer regulatory guardrails and consumer protections. Members argued that uncertainty about which agency is in charge has contributed to investor risk and has driven some projects to leave the United States. Witnesses, including former Securities and Exchange Commission Commissioner Elad Roisman and former Commodity Futures Trading Commission Chairman Rostin “Russ” Behnam, supported establishing a new statutory framework and highlighted a regulatory gap for non-security digital asset markets. Supporters also pointed to consumer-facing provisions described during the hearing, including requirements to keep customer assets segregated from company funds, manage conflicts of interest, and provide plain-English disclosures. The hearing follows the bill’s introduction on 29 May 2025 by Financial Services Committee Chairman French Hill and House Agriculture Committee Chairman G.T. Thompson, after a committee discussion draft and a joint roundtable in early May.
U.S. Financial Services Committee 2025-06-05
U.S. House Committee on Financial Services holds hearing on the CLARITY Act to establish a digital asset market structure framework
The U.S. House Committee on Financial Services held a hearing on H.R. 3633, the CLARITY Act of 2025, aimed at establishing a federal regulatory framework for digital asset market structure. The bill seeks to replace inconsistent rules with clearer regulatory guardrails and consumer protections, addressing agency oversight uncertainty and investor risk. Witnesses supported the framework, highlighting gaps in non-security digital asset markets and emphasizing consumer-facing provisions like asset segregation and conflict management.