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H.R. 3633 House Finance and Financial Sector

Digital Asset Market Clarity Act of 2025

Introduced
May 29, 2025
Sponsor
Rep. Hill, J. French (R-AR-2)
View on Congress.gov

STAGE 4 OF 8 — HOUSE FLOOR

Currently in the House. Last action: placed on senate legislative calendar under general orders. calendar no. 423 on Jun 1, 2026.

  1. House Introduced in House May 29, 2025
  2. House Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. May 29, 2025
  3. House Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 6. Jun 10, 2025
  4. House Committee Consideration and Mark-up Session Held Jun 10, 2025
  5. House Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 19. Jun 10, 2025
  6. House Reported (Amended) by the Committee on Agriculture. H. Rept. 119-168, Part I. Jun 23, 2025
  7. House Reported (Amended) by the Committee on Financial Services. H. Rept. 119-168, Part II. Jun 23, 2025
  8. House Placed on the Union Calendar, Calendar No. 134. Jun 23, 2025
  9. House Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582. Jul 15, 2025
  10. House Considered under the provisions of rule H. Res. 580. (consideration: CR H3373) Jul 17, 2025
  11. House Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582. Jul 17, 2025
  12. House DEBATE - The House proceeded with one hour of debate on H.R. 3633. Jul 17, 2025
  13. House The previous question was ordered pursuant to the rule. Jul 17, 2025
  14. House POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 3633, the Chair put the question on passage of the bill and by voice vote, announced that the ayes had prevailed. Ms. Craig demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced. Jul 17, 2025
  15. House Considered as unfinished business. (consideration: CR H3449) Jul 17, 2025
  16. House Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). Jul 17, 2025
  17. House On passage Passed by the Yeas and Nays: 294 - 134 (Roll no. 199). (text of amendment in the nature of a substitute: CR H3373-3397) Jul 17, 2025
  18. House Motion to reconsider laid on the table Agreed to without objection. Jul 17, 2025
  19. House
    On Passage Jul 17, 2025
    Agreed Yea 294 Nay 134 Roll Call
  20. Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Sep 18, 2025
  21. Senate Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably. May 14, 2026
  22. House Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, with an amendment in the nature of a substitute. Without written report. Jun 1, 2026
  23. Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 423. Jun 1, 2026

Cosponsors

21

Subjects

Advanced technology and technological innovationsBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsComputer security and identity theftComputers and information technologyCurrencyData collection, sharing, protectionDigital mediaFinancial services and investmentsFraud offenses and financial crimesLicensing and registrationsSecurities

Committees

  • Banking, Housing, and Urban Affairs Committee
    • Reported By , Jun 1, 2026
    • Markup By , May 14, 2026
    • Referred To , Sep 18, 2025
  • Financial Services Committee
    • Reported By , Jun 24, 2025
    • Markup By , Jun 10, 2025
    • Referred To , May 29, 2025
  • Agriculture Committee
    • Reported By , Jun 24, 2025
    • Markup By , Jun 10, 2025
    • Referred To , May 29, 2025

Summary

Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025This 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.

Summary as of: Introduced in House

Bill Text

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