Digital Asset Market Clarity Act

What this does

The bill creates a federal framework for regulating the buying and selling of digital assets like cryptocurrency, and it splits oversight between two agencies. Titles I through V direct the Commodity Futures Trading Commission and the Securities and Exchange Commission to divide jurisdiction, with the CFTC taking spot markets in "digital commodities" and the SEC keeping investment contracts and securities. It sets registration rules for crypto exchanges, brokers, and dealers, and it exempts certain initial digital commodity offerings from securities registration. Title VI, separately titled the Anti-CBDC Surveillance State Act, amends the Federal Reserve Act to bar the Federal Reserve from issuing a central bank digital currency. It also prohibits Federal Reserve banks from offering financial products or services directly to an individual or maintaining an account for an individual.

House vote · 294-134

Democrats78–134

Republicans216–0

Independents0–0

How we know · 6 sourced claims

Section 1(a) names exactly three short titles for the Act: the Digital Asset Market Clarity Act of 2025, the CLARITY Act of 2025, and the Anti-CBDC Surveillance State Act.Source: Sec. 1(a)
The bill amends the Commodity Exchange Act to give the CFTC exclusive jurisdiction over accounts, agreements, contracts, or transactions involving a contract of sale of a digital commodity in interstate commerce, including cash or spot markets, when dealt in on or subject to the rules of a registered entity.Source: Sec. 401(d) (Commodity Exchange Act sec. 2(c)(2)(F)(i))
The bill amends the Securities Act of 1933 to exempt from securities registration the offer or sale of an investment contract involving units of a digital commodity by its issuer, subject to conditions including a mature-blockchain requirement, a rolling offering cap of $50,000,000, and a 10 percent per-purchaser ownership limit.Source: Sec. 202(a) (Securities Act sec. 4(a)(8))
Title VI may be cited as the Anti-CBDC Surveillance State Act and amends the Federal Reserve Act.Source: Sec. 601
The bill amends section 16 of the Federal Reserve Act to bar a Federal reserve bank from offering financial products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency.Source: Sec. 602 (Federal Reserve Act sec. 16, new paragraph (18)(A))
The bill amends section 10 of the Federal Reserve Act to prohibit the Board of Governors of the Federal Reserve System from testing, studying, developing, creating, or implementing a central bank digital currency.Source: Sec. 604 (Federal Reserve Act sec. 10, new paragraph (11)(A))

Read the bill on congress.gov ↗

Your representatives

How did your member vote on this?

House roll call

The full roll call

R212–0D77–131I1–0

Position

Party

State

Republicans

215

Democrats

208

Independents

YeaKevin KileyCA · District 3