The US Senate just took its most concrete step yet toward building a regulatory framework for digital assets. The Digital Asset Market Clarity Act of 2025, championed by Senator Cynthia Lummis of Wyoming, passed the Senate Banking Committee with a bipartisan 15-9 vote on May 14.
Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, has been blunt about the stakes.
“This is our last chance to pass the Clarity Act until at least 2030.”
What the CLARITY Act actually does
The core idea is deceptively simple. The bill classifies most blockchain-native tokens as “digital commodities,” placing them under the oversight of the Commodity Futures Trading Commission (CFTC). Tokens that function as investment contracts, meanwhile, would remain under the Securities and Exchange Commission (SEC).
