The CLARITY Act, formally H.R. 3633 or the Digital Asset Market Clarity Act, passed the House 294-134 in July 2025. The bill aims to split oversight of digital assets between the SEC and CFTC, addressing years of regulatory uncertainty over token classification as securities or commodities. The cloture vote is targeted around September 15, requiring 60 Senate votes to proceed to floor debate, an outcome still uncertain. Democrats and some Republicans have withheld support over concerns about conflicts of interest related to President Trump’s crypto holdings, estimated at over $1.4 billion by Reuters.
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