Overview

• The CLARITY Act cleared the House Agriculture Committee 47-6 and the House Financial Services Committee 32-19, positioning it for a full House vote.
• Under the bill, the CFTC would regulate digital commodities and permitted payment stablecoins, while the SEC would oversee assets deemed securities.
• Senators held procedural votes on the GENIUS Act on June 11, laying the groundwork for a decisive floor vote on stablecoin issuer standards.
• Democratic critics say the CLARITY Act lacks adequate consumer protections and fails to bar President Trump’s crypto ventures, and their proposed amendments were rejected.
• Leading crypto lobbyists express skepticism about the CLARITY Act’s odds this year, citing heightened partisan tensions and concerns over Trump’s influence.