A major crypto debate has reignited in Washington. House Republicans have introduced a bold new bill titled the Digital Asset Market Clarity Act, aimed at establishing a clear regulatory framework for cryptocurrencies and digital assets in the U.S. once and for all.
🔍 Goodbye to Legal Uncertainty? Crypto Firms May Finally Know the Rules
The bill was introduced by French Hill, Republican and Chair of the Financial Services Committee. It received bipartisan backing from five Republicans and three Democrats. Its goal is to eliminate the gray legal zone in which the crypto industry has operated for years and create the regulatory clarity needed for innovation to thrive.
Building on last year’s FIT21 bill, this new proposal takes things further—clearly dividing oversight responsibilities and introducing provisional registration for crypto companies as rules are finalized.
⚖️ Bitcoin Under CFTC, Altcoins Potentially Under SEC
Under the bill, the Commodity Futures Trading Commission (CFTC) would receive primary oversight of digital commodity spot markets—which includes major assets like Bitcoin. Meanwhile, the Securities and Exchange Commission (SEC) would continue regulating digital assets considered securities—those typically bought with the expectation of profit based on someone else’s efforts.
Crypto firms could choose to register with CFTC or SEC depending on the type of digital assets they deal with.
The bill also mandates compliance with anti-money laundering rules, including those found in the Bank Secrecy Act. Even decentralized finance (DeFi) protocols and wallet providers would fall under certain requirements, though some might be exempt from SEC supervision.
⏳ Only One Year to Finalize Rules
Regulatory agencies would be given just 12 months to establish the rules, an unusually short timeline in the context of complex U.S. financial legislation. But lawmakers say speed is essential to prevent regulatory stagnation.
🏛️ Political Tension and Crypto Community Support
Despite its bipartisan elements, the bill’s path forward remains uncertain. Some Democrats worry it’s too crypto-friendly, while others express concerns over connections between certain crypto firms and Donald Trump, who has recently re-entered the political scene.
Nevertheless, the bill is seen as a major milestone. The pro-crypto group Stand with Crypto has praised the legislation as “a significant step forward,” providing legal certainty that companies and developers need to operate in the U.S.
There is also growing speculation that this bill may eventually be merged with stablecoin legislation, potentially forming the first comprehensive U.S. crypto law.
📅 What’s Next?
President Trump has urged Congress to pass both crypto bills by August, before the congressional recess. Insiders suggest that’s a highly ambitious timeline.
In the meantime, public hearings on the bill will begin next week, giving lawmakers a chance to debate its content, suggest amendments, and outline the next steps.
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