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New bill would split crypto oversight between SEC and CFTC

Floor activityH.R. 3633Latest action

Sponsor: J. French Hill · Representative · AR

AIDecoded by AI · checked against the record
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Official title: Digital Asset Market Clarity Act

119th Congress

Topics: Jobs & the economy

Introduced:

Read the official bill on Congress.gov

In plain words

The plain-language version comes first. The official text is always the reference.

The CLARITY Act sets federal tests for who regulates crypto and bars the Fed from creating a digital dollar.

45-second read · 4 questions answered below

What does this do?

The CLARITY Act creates a "digital commodities" category and tests to decide whether the SEC or CFTC oversees a given crypto asset. It sets up registration, custody, and disclosure rules for crypto exchanges, brokers, and dealers, exempts certain decentralized finance (DeFi) systems, and protects personal wallet use and direct crypto transactions. A separate provision, the Anti-CBDC Surveillance State Act, bars the Federal Reserve from creating a central bank digital currency or offering related services to individuals.

Who does it affect?

Crypto companies, exchanges like Coinbase or Kraken, investors, everyday crypto users, and banks are affected, along with the SEC, CFTC, and Federal Reserve.

Why does it matter?

The rules aim to resolve current uncertainty over which agency regulates which crypto assets, giving agencies new rulemaking authority and deadlines while permanently blocking any future Fed-issued digital currency.

AI-drafted summary. Check it against the official text before you act on it.

Based on the “Reported to Senate” text of Jun 1, 2026.

Read the official bill on Congress.gov

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Where does it stand?

  1. IntroducedMay 29, 2025
  2. House committee
  3. House vote
  4. SenateYou are here · Sep 15, 2026
  5. The president's desk

Right now: the Senate has not agreed to take it up. The last motion to do so failed. If the Senate changes it, it goes back to the House before reaching the president.

Latest action: — Motion by Senator Tillis to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 234) entered in Senate.

Data as of October 9, 2026

Recorded votes

Roll-call votes recorded since January 3, 2025.

  1. Senate · · Roll call 234

    As recorded

    Question
    On H.R. 3633
    Result:
    Cloture on the Motion to Proceed Rejected
    49
    Nay
    50
    0
    1

    Republicans 49 yes, 4 no · Democrats 44 no, 1 not voting · Independents 2 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

  2. House · · Roll call 199

    As recorded

    Question
    On Passage
    Result:
    Passed
    294
    Nay
    134
    0
    4

    Republicans 216 yes, 4 not voting · Democrats 78 yes, 134 no

    Official record
    How members voted

    The official record lists how each member voted.Official record

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