The cryptocurrency bill that Trump wanted has been submitted to Congress.

The bill named CLARITY, which will bring clear regulations to the crypto sector in the US, has been presented to Congress.

The Chairman of the House Financial Services Committee, French Hill, who is leading the work on the bill, stated, "The draft we have prepared will bring much-needed clarity to the digital asset ecosystem. Consumer protection and American innovation will take center stage. I look forward to getting the bill to President Trump's desk and solidifying America's global leadership in digital assets."

The chairman of the Agriculture Committee, G. T. Thompson, who is the "co-sponsor" of the bill, commented on the matter, stating, "An exciting step towards providing the clarity that digital asset entrepreneurs and markets need."

The proposed regulations for the cryptocurrency market in the draft will be summarized as follows:

• Crypto and digital assets will be subject to an open and comprehensive regulatory system overseen by the SEC and CFTC. While the SEC is more interested in digital assets that are considered securities, the CFTC will oversee assets that are considered digital commodities.
• Mechanisms will be established to protect investors from fraud and deception. Crypto companies and projects will be required to provide detailed explanations to ensure investors have access to clear and transparent information.
• The jurisdictions of the SEC and CFTC will be clarified, thus reducing uncertainty in the crypto sector. Additionally, registration and compliance obligations for intermediaries and platforms are being defined.
• Users' rights to hold their cryptocurrencies themselves and to conduct direct transactions from person to person will be protected.
• Separate and clear rules are being established for stablecoins designed for use in payments.
• Special exemptions are provided for decentralized finance activities, clarifying how such systems will be regulated.
• It is planned to cooperate with regulators from other countries for the consistent regulation of cryptocurrencies on a global scale.

If the bill is accepted, it will create the first comprehensive legal framework for digital assets in the USA.

Finally, the subcommittee chairman Bryan Steil, one of the supporters of the bill, stated, "The golden age of digital assets has begun. America will not only be a participant in the web3 revolution, but it will also be the winner of this revolution." Meanwhile, Congressman Warren Davidson noted that the bill "protects the right to self-custody and the freedom to transact." Another Congressman, Ritchie Torres, expressed that the bill would "end the uncertainty that has long hindered the full potential of digital innovations."

Published: May 30, 2025 00:06