The biggest piece of crypto legislation ever to move through Congress is getting its final tweaks. Negotiators are holding last-minute meetings next week to lock down remaining details of the Digital Asset Market Clarity Act, better known as the CLARITY Act, before the August recess window slams shut.
The bill, designated H.R. 3633, already cleared the House on July 17, 2025, with a 294-134 vote. Now the Senate side is catching up. The Senate Banking Committee reported a substitute amendment on May 14, 2026, passing it 15-9 with bipartisan support. The bill landed on the Senate’s Legislative Calendar on June 1, 2026, setting up the sprint that’s now underway.
What the CLARITY Act actually does
The bill assigns oversight of different digital asset categories to two regulators. Investment contract assets would fall under the SEC. Digital commodities, particularly network tokens, would be regulated by the CFTC.
Beyond the jurisdictional split, the legislation establishes “Regulation Crypto” exemptions and safe harbors designed specifically for decentralized finance applications. Consumer protection measures are baked in as well. The bill aims to create guardrails that didn’t exist when FTX imploded and took billions in customer funds with it.
