US House Agriculture Committee Approves Digital Asset Regulatory Bill 47-6

The Digital Asset Market Clarity Act, a bipartisan bill introduced to establish a clear regulatory framework for digital assets such as cryptocurrencies, has advanced through the House Agriculture Committee and is now moving to the full House for consideration. Sponsored by Representative French Hill and co-sponsored by Representatives including Dusty Johnson, the legislation aims to resolve regulatory uncertainty by delineating responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and by setting disclosure, registration, and operational standards for digital asset firms. The bill seeks to protect consumers and foster innovation by clarifying when digital assets should be regulated as securities or commodities, and by establishing custody and compliance requirements for registered firms. While proponents emphasize the bill's potential to support American leadership in blockchain technology, critics like Representative Maxine Waters oppose it, warning it could create loopholes that favor large financial institutions and fail to adequately protect investors. The legislation reflects ongoing tensions in Congress over the best approach to digital asset regulation, balancing innovation incentives with consumer safeguards and concerns about market risks. Committee Chair French Hill has expressed confidence that the bill will provide the clarity needed to grow the digital asset market responsibly under President Trump's administration.