The US effort to create clearer regulations for the digital asset industry continues to show positive progress as the House of Representatives Financial Services Committee scheduled a hearing on the Digital Asset Market Clarity Act (CLARITY Act) for July 17 in New York.
The bill, introduced in May 2025, is seen as the most significant attempt yet to create a more comprehensive regulatory framework for the world’s largest crypto market.
The CLARITY Act seeks to divide jurisdiction between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Under the proposal, the CFTC would be given exclusive authority over spot markets for digital commodities such as Bitcoin, while the SEC would continue to regulate digital assets classified as investment contracts.
The move is expected to eliminate overlapping powers between the two agencies that have long been a source of uncertainty in the crypto industry.
The bill gained momentum when the Senate Banking Committee approved it by a 15-9 majority in May before it was added to the Senate legislative calendar in early June.
Although it still needs to overcome several obstacles, including obtaining at least 60 votes in the Senate, support from more than 100 crypto companies shows the industry's confidence in the effort.
In a related development, the Senate also passed the 21st Century ROAD to Housing Act, which contains provisions prohibiting the United States Federal Reserve (Fed) from issuing a central bank digital currency (CBDC) until the end of 2030.
With the support of the White House and a large majority in the Senate, the ban has the potential to become law in the near future.
Research firm Galaxy Research estimates that the probability of the CLARITY Act becoming law in 2026 is between 60% and 75%.
Thus, the hearing on July 17 is expected to be an important determinant of the future of the crypto industry in the United States and potentially open a new era for global digital asset regulation.
