An Overview Of H.R. 3633, The CLARITY Act – Analysis – Eurasia Review
By Paul Tierno
On June 23, 2025, the House Committees on Financial Services and Agriculture reported H.R. 3633, the Digital Asset Market Clarity Act of 2025 (or the CLARITY Act).
The bill would give the Commodity Futures Trading Commission (CFTC) a central role in regulating digital commodities and related intermediaries while preserving certain aspects of Security and Exchange Commission (SEC) authority over primary market crypto transactions, subject to a new limited exemption from SEC registration requirements for fundraising. The bill would define digital commodity as a digital asset whose value is “intrinsically linked” to the use of the blockchain. The term digital commodity would exclude securities,…
