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ARTICLE · 26 JUNE 2025

The CLARITY Act Progresses In The House: Key Takeways

Cahill Gordon & Reindel LLP
Cahill Gordon & Reindel LLP
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Cahill Gordon & Reindel LLP

Cahill Gordon & Reindel LLP

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This note analyzes the key takeaways of the current version of the Digital Asset Market Clarity Act of 2025 (the "CLARITY Act" or "Act")...

United StatesTechnology
Lewis Rinaudo Cohen
Lewis Rinaudo Cohen
Samson A. Enzer
Samson A. Enzer
Gregory Strong
Gregory Strong
Sarah Weiyang Chen
Sarah Weiyang Chen
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Introduction

This note analyzes the key takeaways of the current version of the Digital Asset Market Clarity Act of 2025 (the "CLARITY Act" or "Act") under consideration in Congress.

On June 10, 2025, the House Committee on Agriculture ("House Ag") and the House Committee on Financial Services ("HCFS") each approved a nearly 250-page bill, H.R. 3633 (the "Bill"), proposing the CLARITY Act.1 There are some limited but important differences in the versions of the Bill as approved by the two Committees. The two versions are expected to be merged before moving to the House floor for debate. Separately, the Senate Committee on Banking, Housing, and Urban Affairs is holding a hearing on June 24, 2025 to explore potential bipartisan legislative frameworks for digital asset market structure.

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