Thomas Daniels
On June 10, 2025, the US House Agriculture Committee voted decisively 47‑6 to advance the Digital Asset Market CLARITY Act, setting the stage for a regulatory overhaul of the digital asset landscape. Committee Chair Glenn “G.T.” Thompson emphasized that the legislation will now move to the full House, with dissenting views allowed until Friday.
This procedural victory coincided with a parallel session in the House Financial Services Committee, where members debated several contentious amendments. One notable proposal, led by Representative French Hill, would extend explicit protections to blockchain developers. Although Representative Maxine Waters’ ethics-focused amendment and Representative Brad Sherman’s anti-bailout measure failed in voice votes, Hill’s amendment had not yet been resolved at the time of the hearing.
Sponsors of the CLARITY Act assert that it resolves jurisdictional ambiguity—defining which digital assets are securities under the SEC and which fall under the CFTC’s domain as commodities. Introduced in May alongside the companion GENIUS Act in the Senate—targeting stablecoin oversight—the CLARITY Act represents a legislative effort to bring digital asset policy within a unified federal framework.
At the Financial Services markup, lawmakers also grappled with the fallout from past episodes, including the 2022 FTX collapse, highlighting the urgency for systemic safeguards. Notably, neither Waters nor Sherman offered amendments that garnered sufficient support, while debate over developer liability and anti-bailout language remained unresolved.
