In a major bipartisan move, U.S. lawmakers have introduced the Digital Asset Market Clarity (CLARITY) Act -- a bill designed to finally bring clear regulations to the crypto and digital asset industry.
Announced on May 29, the legislation is being led by House Financial Services Committee Chairman French Hill (R-AR), along with a wide coalition of Republicans and Democrats, including House Majority Whip Tom Emmer and Reps. Ritchie Torres (D-NY) and Angie Craig (D-MN).
Chairman Hill said the bill "brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation." He added, "I look forward to delivering our bill to President Trump's desk and securing America's position as the global leader in digital assets."
House Agriculture Committee Chair G.T. Thompson, a co-sponsor, called it "an exciting step towards delivering the certainty and clarity digital asset entrepreneurs and markets need."
Rep. Emmer praised the bill as a step toward ensuring "the next iteration of the internet is developed by Americans and driven by our values."
The legislation sets out clear roles for regulators and is designed to unleash innovation, while also protecting consumers from scams and fraud. It builds on momentum from last year's FIT21 Act, which passed the House with strong bipartisan support.
Subcommittee Chair Bryan Steil said, "The golden age of digital assets is here. America won't just participate in the Web3 revolution; we will win it."
Rep. Warren Davidson said the bill "protects the right to self-custody and the freedom to transact," values he says are essential for innovation and economic freedom.
Rep. Angie Craig emphasized that crypto is no longer niche. "Digital assets...are becoming more and more integrated with our current financial architecture."
Rep. Ritchie Torres echoed the call for clarity, saying, "For too long, regulatory uncertainty has held back the full potential of digital innovation."
If passed, the CLARITY Act will create the first comprehensive legal framework for digital assets in the U.S., potentially setting the global standard.
Congress introduces the CLARITY act to regulate digital assets first appeared on TheStreet on May 29, 2025