Who should regulate crypto, and how much protection do buyers need?
The Digital Asset Market Clarity Act of 2025 (H.R. 3633) would set federal rules for digital assets, largely splitting oversight between the SEC and the CFTC and defining when a token is a commodity versus a security. It also bars the Federal Reserve from issuing a central bank digital currency. The House passed it 294-134; it now awaits a Senate floor vote. Supporters say clear rules keep the industry onshore and protect consumers better than enforcement-by-lawsuit; opponents say the bill weakens investor protections and leaves gaps for fraud and conflicts of interest. Where do you stand?
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The case for
Industry and many lawmakers argue that today's "regulation by enforcement" leaves builders and consumers guessing and pushes activity offshore. A clear framework would assign regulators, define which tokens are commodities, and set disclosure and custody rules, which supporters say adds protections that do not exist now while keeping the U.S. competitive.
Source: The Digital Chamber (crypto-industry, supports; via Yahoo Finance coverage) →The case against
Consumer and financial-reform groups argue the bill creates weaker safeguards than apply to stocks and other investments, could let exchanges run conflicting lines of business, and leaves openings for fraud and illicit finance after consumers have already lost billions to crypto scams. They also raise ethics concerns about officials profiting from an industry they help regulate.
Source: National Consumers League (consumer-protection coalition, opposes) →My Democracy doesn’t take a side — you choose your position below, and your message carries it. Sources represent one organization on each side; they don’t reflect My Democracy’s position.
This campaign is about this bill
H.R. 3633: Digital Asset Market Clarity ActWhat it does
Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025This bill establishes a regulatory framework for digital commodities, defined by the bill as digital assets that rely upon a blockchain for their value.The Commodity Futures Trading Commission must generally regulate digital commodities transactions, including digital commodity exchanges, brokers, and dealers. To qualify for trade on an exchange (1) a digital commodity’s blockchain must be mature, or on a blockchain system that has achieved decentralized control as defined by the bill; or (2) the issuer of the digital comm
Latest action: Placed on Senate Legislative Calendar under General Orders. Calendar No. 423. (Jun 1, 2026)
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What’s your position?
Both sides are laid out above. Your message will carry your position — My Democracy doesn’t take a side.