The CLARITY Act would replace SEC enforcement with registration pathways for crypto platforms

Trading platforms and intermediaries would gain registration pathways under the Digital Asset Market Clarity Act. The bill, which passed the House of Representatives in July 2025, delineates regulatory responsibilities between the SEC and CFTC. It introduces protections, disclosure rules, and custody standards. It also addresses stablecoins and DeFi safe harbors and establishes policies against illegal finance. Treasury officials claim these rules would end regulatory uncertainty, boost institutional participation, and anchor crypto development domestically.