House Agriculture Committee Moves Forward with Crypto Market Structure Legislation

Key Updates

Two committees in the House of Representatives reviewed the crypto market structure legislation known as the Clarity Act, discussing amendments during markup hearings.
The House Agriculture Committee moved its version forward with strong bipartisan support (47-6), while the House Financial Services Committee continues to work on its amendments. Both committees have jurisdiction over crypto.
Meanwhile, the Senate is approaching a vote on stablecoin legislation referred to as the GENIUS Act, which might occur as early as Wednesday.

Overview of Developments

On June 10, 2025, the House Agriculture Committee made a notable advancement with a 47-6 vote on a significant crypto market structure bill, signaling a proactive stance on digital asset legislation this week. Concurrently, the House Financial Services Committee was finalizing details on a bill for overseeing digital asset markets, as the Senate moved towards voting on stablecoin regulations.

The Clarity Act aims to clarify the regulatory landscape for digital assets, addressing regulatory gaps at the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) while enhancing consumer protections in crypto transactions.

“The Clarity Act provides certainty on digital assets to market participants, fills regulatory gaps at the Commodity Futures Trading Commission and the Securities and Exchange Commission, bolsters American innovation and brings needed customer protections to digital asset related activities and intermediaries.”
Translation: The Clarity Act aims to ensure regulatory clarity for digital assets, which is significant for market participants and promotes innovation and consumer safeguards in the industry.

Representative Angie Craig expressed the bill’s imperfections, yet emphasized the increasing number of Americans engaged in cryptocurrency, advocating for necessary consumer protections.

The House bill establishes the regulatory overlaps between the two federal markets regulators and empowers the CFTC in overseeing digital commodities trading, a key component of crypto activity. Congressional staff members indicated that materials from both committees would be merged for a unified report for the wider House’s consideration.

Concerns have emerged regarding the bill’s oversight capabilities, specifically regarding investor protections, with certain representatives arguing it might allow crypto companies to evade essential scrutiny.

While deliberations proceed on the Clarity Act, the Senate’s GENIUS Act seeks to establish a framework for U.S. stablecoins, essential for underpinning many crypto trading activities. Legislative movements are being closely monitored by industry insiders, who anticipate a vote imminently.