The American Committee for Financial Services has advanced a bill on the structure of the cryptographic market called the law on the clarity of the digital asset market (clarity), which will soon go to the ground of the full chamber for a vote.
The legislators of the financial services of the Chamber voted on Tuesday 32 to 19 to put the law on clarity to a full vote after the committee of agriculture of the Chamber voted earlier 47 to 6 to advance the bill.
“This is the second bill that Bryan Steil has skillfully directed, the first stablescoins and now a bill on the structure of the market,” said the representative of Bill, the representative French Hill shortly after the vote.
Steil, who is the president of the subcommittee of the committee of the Chamber of Financial Services, described him as a “big step forward”, adding that it was “great to see” that the act of Hill had adopted the committees of the Chamber.
“This is an opportunity for America to direct the web3 on the Internet in the future of web3, including financial services using token payments,” added Hill.
🚨The Clarity Act heads to the house floor. @Repfrenchhill @Repbryansteil pic.twitter.com/VI21F5D3WN
– GOP financial services (@financialcmte) June 11, 2025
Invoice to contact “all those who participate” in the crypto
Hill, who presented the bill in May, said that the Clarity Act “would create a fair, functional and prospective regulatory framework that captures all those who participate”.
The legislation on the cryptographic market covers the Securities and Exchange Commission and the Commodity Futures Trading Commission and designates their respective roles in the regulation of digital assets.
It also establishes provisional recording requirements of CFTC for crypto exchanges, exchanges of digital products, brokers and dealers, which must also follow the disclosure rules, the segregation of customer assets and the holding of files.
It also explicitly protects the rights of users to hold crypto in non -guardian wallets and to transact peers.
Make changes to protect developers
Earlier this week, Hill introduced an amendment to the bill “treatment of certain non -controlling blockchain developers”.
The amendment proposed that certain blockchain developers or service providers are not considered “money issuers” or subject to their registration requirements.
In relation: Crypto Lobby wants software development protections added to Crypto Bill
Some Democrats remain opposite
The member of the financial classification committee of financial services, Maxine Waters, proposed to modify the legislation to combat the allegations of conflicts of interest related to the cryptographic companies of the American president Donald Trump.
She suggested that he could use the bill to enrich personally himself and his family.
Meanwhile, the representative Brad Sherman proposed another amendment to prohibit what he called in the future the potential “plunge” of the cryptographic industry.
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