Overview

• The House Agriculture Committee approved the Digital Asset Market Clarity Act by a 47-6 bipartisan vote, sending it to the Financial Services Committee for further review
• The Clarity Act would designate the CFTC as the primary regulator for most digital commodities while defining its boundaries with the SEC
• Financial Services Committee Democrats have raised concerns over CFTC funding and introduced amendments to prevent President Trump and his family from benefiting from crypto ventures
• In the Senate, Majority Leader John Thune set a deadline for amendments to the GENIUS Act, which is expected to reach a final vote this week to establish stablecoin safeguards
• If both the Clarity Act and GENIUS Act clear their chambers, lawmakers must decide whether to merge stablecoin rules with broader market-structure legislation or advance them separately