The U.S. House of Representatives has passed the CLARITY Act (Digital Asset Market Clarity Act) and the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) following a historic 16-hour voting session ending July 17, 2025. The CLARITY Act establishes federal regulatory standards for cryptocurrencies, explicitly classifying BTC and ETH as commodities under CFTC jurisdiction, while the SEC retains oversight of crypto securities. It mandates anti-money laundering (AML) compliance for exchanges and custodians.
Concurrently, the GENIUS Act—previously approved by the Senate—sets consumer protection frameworks for stablecoins, requiring transparency in reserves and fraud prevention mechanisms. The House adopted its resolution (H.Res.580) by a narrow 217-212 vote after debates linking it to the Anti-CBDC Surveillance State Act. Conservatives secured the latter bill's attachment to the must-pass National Defense Authorization Act (NDAA), banning federal issuance of central bank digital currencies over privacy concerns.
House Financial Services Chairman Bryan Steil emphasized, "These pieces of legislation are vital to ensuring America is at the forefront of innovation in the digital asset space". The bills now await final reconciliation.