#CryptoClarityAct Here is a summary of 124 words

The CLARITY Act is a Bill (H.R. 3633) in the United States aimed at providing legal clarity regarding digital assets by explicitly defining the roles of the SEC and CFTC. It distinguishes crypto tokens as securities or commodities based on their individual characteristics, as well as protecting peer-to-peer transactions and users' self-custody. This bill has strong bipartisan support, having passed the House Financial Services and Agriculture Committees with a large majority. Additional amendments like the Blockchain Regulatory Certainty Act are being prepared to refine regulations and preserve the DeFi innovation space. If passed by the Senate, the CLARITY Act will help reduce legal ambiguity and promote investor confidence and the growth of the crypto industry globally.