U.S. releases revised crypto market structure bill

Crypto in America host Eleanor Terrett reported on X that the U.S. House of Representatives has released an updated version of the Cryptocurrency Legal Clarity Act of 2025 (CLARITY Act) through an Amendment in the Nature of a Substitute (ANS). Terrett noted that this draft reflects the latest text from the House Financial Services Committee, while the House Committee on Agriculture is working on its own version, which it will mark up separately. Once both committees complete their markups on June 10, the two versions will be merged into a single, unified bill. The legislation defines key terms, clarifies the roles of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and introduces a provisional registration system for digital asset exchanges, brokers and dealers. It also includes limited exemptions for certain non-controlling blockchain developers, and addresses international cooperation and compliance with the Bank Secrecy Act (BSA). The CLARITY Act builds on last session’s Financial Innovation and Technology for the 21st Century Act (FIT21) and aims to establish a clear regulatory framework for digital assets in the U.S.