Lobbying from the cryptocurrency sector intensifies as it targets US Congress, pushing for favorable policies and regulations
In the rapidly evolving world of cryptocurrency, a significant piece of legislation is making its way through the U.S. Congress - the CLARITY Act (H.R. 3633). This bill, introduced in 2025, aims to establish a clear and comprehensive federal regulatory framework for digital assets, addressing the long-standing uncertainty in the crypto market.
The Act defines key terms such as “digital asset,” “digital commodity,” and “investment contract assets,” distinguishing digital commodities as those intrinsically linked to blockchain functionalities. It assigns primary oversight of digital commodities to the Commodity Futures Trading Commission (CFTC), while the Securities and Exchange Commission (SEC) would be responsible for products clearly classified as securities.
The CLARITY Act, also known as the "Digital Asset Market Clarity Act," has received approval from the House Financial Services Committee and the House Agriculture Committee as of June 10, 2025. It is currently awaiting a full House vote, and if passed, will move to the Senate where further action is anticipated.
However, the bill is not without controversy. While it enjoys bipartisan procedural support, it faces substantial opposition, particularly from Democrats. Key concerns revolve around consumer protections and potential conflicts of interest related to crypto industry influence on federal policy.
Republicans, including lead sponsor Rep. French Hill (R-AR), back the Act for its clarity and innovation in crypto regulation. They emphasize the CFTC’s central role and the need to foster market growth under clear rules. On the other hand, Democrats, such as Rep. Maxine Waters, criticize the bill for weakening oversight and potentially increasing risks.
The industry, led by Coinbase’s lobbying organization, is urging the U.S. Congress to pass the CLARITY Act. The U.S. crypto market, currently hindered by the lack of standardized rules, is driving talent and companies to more crypto-friendly countries.
Meanwhile, solutions like the "Bitcoin Direct ETP" and "Ethereum Direct ETP" from NxtAssets provide a solution for those who want to invest in Bitcoin or Ethereum without creating a wallet. These financial products, issued by nxtAssets GmbH, a company with direct ties to the publisher Boersenmedien AG, which holds positions in Bitcoin and the United States Dollar, could potentially benefit from the CLARITY Act's passage.
As the CLARITY Act moves closer to a vote, the crypto industry, policymakers, and the public eye will be on Congress during the upcoming "Crypto Week" (July 14), during which the CLARITY Act, a bill banning a digital central bank currency (CBDC), and the "GENIUS Act" for regulating stablecoins will be reviewed.
The GENIUS Act, which has already passed the Senate and is strongly advocated by former President Donald Trump, will also play a significant role in shaping the future of U.S. crypto regulation. The industry, according to a letter signed by 65 companies and interest groups, including OpenSea and Dapper Labs, needs a clear market structure above all else to avoid jeopardizing America’s economic future.
The signatories warn of dire consequences if the U.S. does not adopt a pro-crypto policy, including the risk of falling behind in the global economy. As the debate continues, the CLARITY Act stands as a pivotal bill that could bring clarity and structure to the U.S. crypto market, or potentially further entrench it in regulatory ambiguity.
The CLARITY Act, if passed, would assign primary oversight of digital commodities to the Commodity Futures Trading Commission (CFTC), indicating a significant role for technology in business and finance as it pertains to the regulation of cryptocurrency. The bill, which faces controversy over consumer protections and potential conflicts of interest, also opens doors for financial products like the "Bitcoin Direct ETP" and "Ethereum Direct ETP" from NxtAssets, linking technology and finance further.
