The Clarity Act (Digital Asset Market Clarity Act of 2025) is proposed U.S. legislation designed to establish clear regulatory boundaries between the SEC and CFTC for digital asset oversight. Passed by the House in July 2025 and awaiting Senate approval, it defines "digital commodities" as assets intrinsically linked to blockchain use, creates exemptions for token offerings on mature blockchains (up to $75 million in 12 months), and explicitly excludes decentralized finance activities from certain requirements while maintaining anti-fraud protections.
Example:
Under the Clarity Act, if Bitcoin is classified as a digital commodity, it would fall under CFTC jurisdiction for trading oversight rather than SEC securities regulation. A new blockchain project could raise up to $75 million by selling tokens without full securities registration, provided the blockchain meets maturity criteria.