Overview

• House Republicans renewed calls for the Senate to pass the Digital Asset Market Clarity (CLARITY) Act as senators enter negotiations on a broader market-structure deal.
• The Democrats’ six-page framework backs exclusive CFTC oversight of non‑security spot markets and directs the SEC to fold digital assets and platforms into existing securities rules.
• The plan would require platforms serving U.S. users to register as financial institutions under the Bank Secrecy Act and implement anti‑money‑laundering and sanctions controls, including for offshore venues accessing U.S. customers.
• Lawmakers call for an oversight approach for DeFi and propose ethics and disclosure rules that bar elected officials and their families from issuing, endorsing, or profiting from digital assets while in office, citing concerns about President Trump’s family ventures.
• Democrats insist on bipartisan commissioner quorums at the SEC and CFTC for digital‑asset rulemakings, as Senate leaders eye committee work in September and October and target floor consideration in November or December.