Crypto is no longer a niche market. Stablecoins move trillions of dollars, and major banks and payment companies are building onchain, but the federal rules governing much of that activity remain incomplete.

That is the problem the “CLARITY Act” (HR 3633) is meant to solve. The bill would establish federal oversight for crypto markets, define the respective roles of the SEC and CFTC, impose disclosures and restrictions on insiders, and bring exchanges and other intermediaries under rules familiar from traditional finance. If passed, this bill will establish clear rules of the road for blockchain systems — ending the years of uncertainty that have stifled innovation and exposed consumers to harm.

This post — based on a recent…