Rep. William Timmons stood before the House Financial Services Committee in New York City on July 17, 2026, and deployed the kind of metaphor that only a politician could love. The CLARITY Act, he said, is “on the 1-yard line” and Congress needs to “score the touchdown.”
The Digital Asset Market Clarity Act represents Congress’s most ambitious attempt to resolve the regulatory fog that has hung over US crypto markets for years. With Senate passage odds hovering around 44-50%, the game is very much still being played.
What the CLARITY Act actually does
The bill, introduced as H.R. 3633 on May 29, 2025, hands the Commodity Futures Trading Commission primary oversight of digital commodities while letting the Securities and Exchange Commission keep limited authority over certain primary-market activities.
The legislation defines “digital commodity” based on intrinsic blockchain use, deliberately carving out securities, derivatives, and stablecoins from that definition. That distinction matters enormously because it determines which federal agency gets to write the rulebook for any given token.
