The House Financial Services Committee and House Agriculture Committee have moved comprehensive digital asset legislation forward following a markup hearing on the CLARITY Act.
The bill passed by a bipartisan vote of 32 to 19 in the Financial Services Committee, and the Agriculture Committee passed it by a vote of 47-6.
While some Democrats opposed the bill, the legislation garnered bi-partisan support.
Chairman of the House Committee on Financial Services, French Hill, issued the following statement:
“Blockchain technology and digital assets are reshaping the future of American finance – one that includes a more secure, decentralized, and inclusive system. Congress has a historic opportunity to provide the clear regulatory framework needed to unlock this innovation. I am proud that the Financial Services Committee, along with the House Agriculture Committee, took this vital step in advancing the bipartisan CLARITY Act through our Committees. I thank my colleagues on both sides of the aisle for their support as this bill is one step closer to becoming law.”
Representative GT Thompson, Chairman of the Agriculture Committee, added that the timing is right to advance common-sense legislation that will bring certainty to the digital asset sector.
“Working across the aisle and across the Capitol, we can get the CLARITY Act across the finish line and to the President’s desk.”
Bill sponsor Representative Bryan Steil stated:
“The digital asset revolution is here, and the U.S. must lead,” said Steil. “Our CLARITY Act ensures the U.S. wins the Web3 race by encouraging the innovation and development of Web3 businesses here in the United States, protecting consumers from fraud, and outcompeting our adversaries. I’d like to thank Chairman French Hill and Chairman Thompson for their leadership as well as my colleagues on the Financial Services Committee for their commitment to securing the Golden Age of digital assets.”
Crypto Council President and Acting CEO Ji Kim declared the legislation a historic moment for the digital asset industry:
“Today marks a historic moment for the digital asset industry. The House Financial Services and Agriculture Committees both advanced the CLARITY Act – a major step toward clear crypto rules that define SEC and CFTC roles, protect self-custody, and safeguard consumers. Thank you to Chairs Hill and Thompson, bipartisan members, and staff for championing US leadership in digital finance and innovation.”
As President Trump has been vocally supportive of the evolving digital asset sector, unlike the prior administration, once the bill makes it through the Senate, and eventually reaches the President’s desk, it is sure to be signed into law.
