Senator Tim Scott wants to take crypto out of the regulatory shadows. The South Carolina Republican and Senate Banking Committee chairman is championing the Digital Asset Market Clarity Act of 2025, arguing it delivers the safety, fairness, and transparency that Bitcoin and the broader digital asset market have been missing.
The bill, formally known as H.R. 3633, already cleared the House with a 294-134 vote back in July 2025. It then advanced through Scott’s Banking Committee on a 15-9 bipartisan vote in mid-May 2026. Now it awaits consideration by the full Senate.
What the Clarity Act actually does
The Clarity Act attempts to settle the SEC-CFTC jurisdictional dispute with actual legislation instead of agency improvisation. It grants expanded oversight authority to the CFTC over digital commodities, which would include assets like Bitcoin. The SEC retains a more limited role, focused on tokens that function more like traditional securities.
Beyond the jurisdictional housekeeping, the bill includes consumer protection measures, safeguards for developers building in the space, and provisions aimed at combating illicit finance. Scott has framed the legislation as bringing digital assets into a regulatory framework that is “safer, fairer, and more transparent.”
