The crypto industry's regulatory framework just cleared its biggest hurdle yet. The US House of Representatives passed the Digital Asset Market Clarity Act, known as the CLARITY Act, with a bipartisan 294-134 vote. The bill now heads to the Senate.
Senator Cynthia Lummis, a key crypto advocate, is pushing to get the legislation through the Senate and to President Trump's desk. Trump has pledged to sign it immediately.
The CLARITY Act creates a federal framework distinguishing between securities and commodities, a critical distinction for exchanges, custodians, and institutional investors. It follows the GENIUS Act, which established a federal regime for stablecoins.
Watch the Senate markup process closely. The specific language around how tokens transition between classifications will determine if this bill delivers the clarity its name promises.