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ClarityNow

The Digital Asset Market Clarity Act · H.R. 3633

Crypto has grown up.
America’s rules must catch up.

Clear law can protect consumers, punish bad actors, preserve the right to hold your own assets, and keep the next generation of finance built in the United States. Ambiguity does none of that. The Senate should pass CLARITY now.

Tell the Senate: Pass CLARITYRead the Bill
House vote

294-134

Passed, bipartisan

Senate Banking

15-9

Advanced, May 2026

Next step

Sept. 15

Procedural vote, 2:15 PM ET

Status

Pending

Updated August 28, 2026

01 / Open technology

Freedom to build. Freedom to hold.

Clear rules for intermediaries should not become a tax on writing software or a ban on holding your own assets. CLARITY draws that line.

For developers

Publishing code is not money transmission

Non-controlling developers and infrastructure providers are not treated as money transmitters solely for publishing code or supporting a network. Where a developer does not control customer funds, the obligations designed for custodial intermediaries do not automatically attach.

// publish, verify, run a node
git push origin main
node ./validator --network mainnet
// no custody, no control of user funds

For individuals

Your keys stay yours

Through the Keep Your Coins Act, federal agencies may not prohibit or impair lawful self-custody using self-hosted wallets. Holding your own assets remains a lawful choice, written into statute rather than left to the discretion of a future administration.

  • Self-hosted walletLawful
  • Private keysHeld by you
  • Federal prohibitionBarred
  • Fraud, launderingStill enforceable

Accuracy noteThese protections are not immunity. Fraud, money laundering, sanctions violations, and other unlawful conduct remain fully enforceable... including against people who write code or use self-hosted wallets. DeFi activity is not exempt from law.

02 / The problem

The status quo is a choice

Congress has not written the rules, so agencies and courts improvise. That is not caution... it is a decision to leave consumers and builders exposed.

  • Who writes the rules

    Rules by lawsuit

    Core questions about how digital assets are treated get answered case by case, after the fact, in litigation.

  • Agency authority

    Overlapping regulators

    The SEC and CFTC assert authority over adjacent activity with no statute drawing the boundary.

  • Where consumers end up

    Consumers pushed offshore

    Ambiguity at home nudges everyday users toward offshore venues with weaker disclosure and custody practices.

  • What builders face

    Builders guessing

    Founders cannot tell which registration regime applies, so compliance becomes a legal gamble.

03 / The substance

What CLARITY actually does

Six concrete changes in the legislation as passed by the House and advanced by Senate Banking.

  1. Jurisdiction

    Sec. 01

    Defines the lanes

    Statute... not shifting agency guidance... sets out which digital assets and activities fall under the CFTC as digital commodities and which remain securities under the SEC.

  2. Sec. 02

    Modernizes U.S. markets

    Tokenization rules, defined bank participation, joint SEC/CFTC innovation mechanisms, and responsible capital-formation pathways for digital asset issuance.

  3. Consumer safeguards

    Sec. 03

    Protects customer property

    Registered intermediaries face custody and customer-property requirements, disclosure obligations, and clearer accountability for how user assets are held.

  4. Sec. 04

    Arms law enforcement

    Bank Secrecy Act and sanctions treatment, examination standards, illicit-finance coordination, kiosk protections, and provisions addressing mixers, offshore platforms, and foreign adversaries.

  5. Open technology

    Sec. 05

    Protects self-custody

    Through the Keep Your Coins Act, federal agencies may not prohibit or impair lawful self-custody using self-hosted wallets. Unlawful conduct remains fully enforceable.

  6. Sec. 06

    Gives builders a rulebook

    Registration paths, disclosure standards, and legal clarity for DeFi activity, plus protections for non-controlling software developers who publish code or support a network.

04 / Consumer protection

Consumer protection is the pro-crypto position

A market that wants long-term legitimacy should want enforceable rules. Protection and innovation are not opposites... the same statute delivers both.

  1. Step 01

    Clear rules

    Congress writes the statute instead of leaving the field to enforcement actions.

  2. Step 02

    Registered, accountable firms

    Intermediaries register, face examination, and answer for failures.

  3. Step 03

    Transparent disclosures and custody

    Users can see what they own, how it is held, and who holds it.

  4. Step 04

    Safer participation

    Ordinary Americans can participate on U.S. platforms bound by U.S. law.

“The next failure should not be met with another hearing about rules Congress refused to write.”

No statute can promise that no firm will ever fail. What CLARITY does is set registration, disclosure, custody, and anti-fraud requirements in advance, so a failure meets law rather than a vacuum.

05 / Digital dollars

The stablecoin compromise, stated precisely

The Senate framework preserves competition in digital dollars without turning payment stablecoins into unregulated deposit substitutes. This is a workable compromise... not a blanket authorization of yield.

AllowedActivity-based rewards
  • Bona fide transaction and payment incentives
  • Remittance and liquidity incentives
  • Staking and validation-related rewards
  • Product-use and other activity-based incentives
  • All subject to joint rules issued by the agencies
Not allowedPassive yield
  • Passive interest paid solely for holding a payment stablecoin
  • Yield that is functionally equivalent to an interest-bearing bank deposit
  • Marketing a payment stablecoin as a deposit-like savings product on that basis

06 / Urgency

Why passage cannot wait

Every month without statute is a month of rules written by litigation, and a month of American builders, banks, and capital weighing a move offshore.

  • 01

    Consumers need law, not ambiguity

    Disclosure, custody, and anti-fraud duties only protect people if they exist before the next failure... not after it.

  • 02

    Innovation goes where rules are clear

    Founders, banks, markets, and institutional capital can build in the United States when registration and compliance are knowable in advance.

  • 03

    An act of Congress endures

    Agency policy can change with an election or a new chair. A statute sets durable lanes that survive the next administration.

The national interest is straightforward: American rules, American jobs, stronger oversight, continued dollar leadership, and less dependence on offshore venues that answer to no U.S. regulator.

07 / Facts

Myth and fact

The loudest objections to CLARITY describe a bill that does not exist. Here is what the legislation actually says.

Act now

The debate has lasted long enough.

Write the rules. Protect the public. Keep innovation in America.

Contact Your Senators

Sources and bill text

  1. 01H.R. 3633, Digital Asset Market Clarity ActBill text, actions, and roll call... Congress.gov
  2. 02Updated Senate framework announcementRelease of updated CLARITY Act text and supporting documents... U.S. Senate
  3. 03Senate contact directoryFind and contact your senators... senate.gov
  4. 04House roll call vote on H.R. 3633Official recorded vote, 294-134... clerk.house.gov

This page argues for passage; the underlying record is public.