Rep. French Hill, Chairman of the House Financial Services Committee, has introduced the Digital Asset Market Clarity (CLARITY) Act. This bipartisan legislation aims to create a regulatory framework for digital assets in the United States.
The bill is co-sponsored by several prominent figures, including House Committee on Agriculture Chairman G.T. Thompson, House Majority Whip Tom Emmer, and others from both parties.
Chairman Hill expressed his enthusiasm for the initiative: “I am proud to introduce the bipartisan CLARITY Act with my colleagues. Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation.” He added that he looks forward to advancing this bill through Congress.
Chairman Thompson shared his support: “I’m proud to join Chairman Hill…in introducing Digital Asset Market Clarity (CLARITY) Act.” He emphasized that this legislation will provide much-needed certainty for digital asset entrepreneurs and markets.
House Majority Whip Emmer highlighted the significance of this moment: “This is an important moment for the United States…ensuring that the next iteration of the internet is developed by Americans.”
Subcommittee Chairman Steil noted that America should lead in digital assets: “The golden age of digital assets is here. America won’t just participate in the Web3 revolution; we will win it.”
Subcommittee Chairman Johnson pointed out that a clear regulatory framework is essential: “America should be the global leader in the digital assets marketplace – but we can’t do that without establishing a clear regulatory framework.”
Rep. Davidson praised the act’s potential impact on innovation and economic growth: “The CLARITY Act creates a clear and effective regulatory framework for digital assets.”
Ranking Member Craig underscored its importance for consumers and businesses: “It is critical that Congress establish clear protections for consumers and retail investors as well as rules of the road for businesses dealing in digital assets.”
Rep. Torres highlighted how this legislation addresses regulatory uncertainty: “For too long, regulatory uncertainty has held back…digital innovation in the United States.”
Rep. Davis discussed its relevance to rural areas: “Digital assets present a chance for a more inclusive financial future…we need clear rules and fair oversight.”
Further information about previous related legislative efforts was provided, including past bills like FIT21 Act and discussions led by committee members.
