House Passes 12 Financial Bills Including Crypto AML Measures

In 2025, the U.S. House of Representatives and Senate advanced significant legislation aimed at regulating the cryptocurrency market to foster innovation while protecting investors. The House passed multiple bills, including the Financial Technology Protection Act to coordinate federal efforts against illicit digital asset use, and the CLARITY Act, which aims to provide a clear regulatory framework for digital assets. House Majority Whip Tom Emmer celebrated these bills, highlighting President Donald Trump's role in promoting American leadership in crypto, including the signing of the GENIUS Act and the CBDC Anti-Surveillance Act. Meanwhile, the Senate Banking Committee introduced the Responsible Financial Innovation Act (RFIA), which designates the SEC as the primary regulator of most digital assets, replaces the Howey Test with a revised investment contract rule, and creates a “Micro-Innovation Sandbox” to encourage startup experimentation. The Senate bill also introduces an "ancillary assets" category to exempt certain tokens from SEC jurisdiction, permitting token sales up to $75 million annually under specific conditions, though it has drawn criticism for possible regulatory ambiguities. These developments reflect a bipartisan effort to clarify digital asset regulations, balance innovation with market stability, and maintain U.S. leadership in the crypto sector.