The CLARITY Act, H.R. 3633, passed the House with a 294-134 vote on July 17, 2025, and advanced through the Senate Banking Committee 15-9 on May 14, 2026. But its path to law is now complicated by President Trump’s family meme coins, $TRUMP and $MELANIA.
Democrats on the Senate Banking Committee are demanding amendments to prevent senior officials-including the president-from benefiting financially from digital assets while in office. They say no ethics provisions, no deal.
The bill would classify most blockchain-native tokens as digital commodities under CFTC oversight, moving them away from the SEC. It also aims to clarify jurisdictional boundaries and strengthen customer asset protections.
Anti-money laundering rules and stablecoin yield provisions remain unresolved. With midterms approaching, time is running out.