Today, House Agriculture Committee Ranking Member Angie Craig (MN-02) released the following statement regarding the passage of the bipartisan Digital Asset Market Clarity Act of 2025 (H.R. 3633, or “CLARITY Act”).

Over the past decade, the American public’s interest in, and consequently use of, digital assets like cryptocurrency have increased. The latest Pew Research Center survey estimates 17 percent of U.S. adults – around 44 million people – have invested in, used or traded a cryptocurrency.

“Before today, millions of Americans engaged with digital assets without any consumer protections. We only need to look at the meltdown of FTX, which cost retail investors and pension funds across the country millions in losses, to understand the risk of continuing the status quo. The CLARITY Act takes a step in the right direction by allowing the CFTC and SEC to mitigate undue financial risk and protect everyday Americans participating in digital asset markets. This bill is not perfect. There is more work to be done to prevent those in power, including the president’s family business, from the inherent conflicts of interests of participating in the digital asset and other markets while president. I look forward to leading the charge to put strong conflicts of interest and corruption guardrails in place where they do not exist today in the executive branch,” said Ranking Member Craig.

The worldwide market capitalization of all “cryptocurrencies” in circulation was approximately $3.86 trillion as of July 17, 2025.¹

The CLARITY Act:

· Establishes a comprehensive market structure framework for the issuance and trading of digital assets and provides needed customer protections.

· Imposes customer protection requirements on trading platforms and intermediaries, including ensuring trading is not susceptible to manipulation, customer disclosures, customer fund segregation and addressing market integrity and recordkeeping requirements.

· Outlines specific criteria for when a digital asset is regulated by the Securities and Exchange Commission (SEC) or by the Commodity Futures Trading Commission (CFTC).

· Details a path for crypto companies to issue and trade tokens overseen by the SEC.

· Gives CFTC regulatory authority over the “digital commodities” market, which are markets where digital assets related to blockchain systems are deemed by the SEC to be “mature,” or largely decentralized.