REP. French Hill Introduces Bipartisan Digital Asset Market Structure Legislation
WASHINGTON, D.C.,
May 29, 2025
WASHINGTON, D.C. — Rep. French Hill (R-AR), Chairman of the House Financial Services Committee, today introduced the Digital Asset Market Clarity (CLARITY) Act, which would establish a regulatory framework for digital assets in the United States. House Committee on Agriculture Chairman G.T. Thompson (R-PA), House Majority Whip Tom Emmer (R-MN), House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (R-WI), House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson (R-SD), Rep. Warren Davidson (R-OH), House Agriculture Committee Ranking Member Angie Craig (D-MN), Rep. Ritchie Torres (D-NY), and Rep. Don Davis (D-NC) are all original co-sponsors. Chairman Hill said, “I am proud to introduce the bipartisan CLARITY Act with my colleagues. Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation, and builds off our work in the 118th Congress. I look forward to delivering our bill to President Trump’s desk and securing America’s position as the global leader in digital assets.” Chairman Thompson added, "I’m proud to join Chairman Hill, and bipartisan leaders from both our committees in introducing Digital Asset Market Clarity (CLARITY) Act. Today's introduction of CLARITY is an exciting step towards delivering the certainty and clarity digital asset entrepreneurs and markets need. This landmark legislation will protect consumers, unleash entrepreneurship, and ensure the United States sets the global standard for the future of innovation." House Majority Whip Emmer stated, “This is an important moment for the United States. This bill is a bold step to ensuring that the next iteration of the internet is developed by Americans and driven by our values. I am grateful to my colleagues for all of their work to craft this thoughtful, globally competitive framework, and look forward to working with them to ensure this commonsense legislation is signed into law.” Subcommittee Chairman Steil said, “The golden age of digital assets is here. America won’t just participate in the Web3 revolution; we will win it. The CLARITY Act ensures that financial innovation and development of digital assets occurs here in the United States. Our bill secures American dominance, democratizes digital assets, unleashes innovation, and protects consumers from fraud. Thank you, Chairman Hill and Chairman Thompson, for leading this effort.” Subcommittee Chairman Johnson added, “America should be the global leader in the digital assets marketplace - but we can't do that without establishing a clear regulatory framework. This legislation gives our markets the clarity they need to thrive, protect consumers, and foster innovation. I'm grateful for the partnership of Chairmen Thompson, Hill, Steil, and Majority Whip Emmer thus far and I’m looking forward to working together to get this landmark legislation across the finish line.” Rep. Davidson said, “The CLARITY Act creates a clear and effective regulatory framework for digital assets. It protects the right to self-custody and the freedom to transact. These principles are essential for innovation, economic growth, and individual liberty. Since 2018, I’ve worked to bring legal clarity to digital assets. The CLARITY Act delivers on that goal. I applaud Chairman Hill for his leadership in solidifying the United States' position as a global leader in digital assets." Ranking Member Craig said, “Digital assets, including crypto currencies, are moving from a unique, novel financial product to becoming more and more integrated with our current financial architecture. I believe it is critical that Congress establish clear protections for consumers and retail investors as well as rules of the road for businesses dealing in digital assets. The bipartisan CLARITY Act will ensure oversight and regulation of digital assets in our financial system so that business owners, innovators and consumers can engage with in these markets knowing what is expected of them.” Rep. Torres said, “For too long, regulatory uncertainty has held back the full potential of digital innovation in the United States. The CLARITY Act will deliver clear rules of the road that entrepreneurs, investors, and consumers deserve. By protecting consumers, promoting transparency, and closing regulatory gaps, this legislation will ensure that America remains the global leader in digital asset innovation.” Rep. Davis said, “Families, entrepreneurs, and small businesses across our country, including rural areas in eastern North Carolina, seek ways to engage in the modern economy. Digital assets present a chance for a more inclusive financial future, but we need clear rules and fair oversight for innovation to thrive. Congress must ensure that America shapes digital finance, creates opportunities, protects consumers, and supports overlooked communities.” Click here for the text of Digital Asset Market Clarity (CLARITY) Act. Click here for a section-by-section. Click here for a one-pager. Further Background on the Committee’s work on digital asset market structure legislation:
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