CLARITY Act Tracker
Track the legislative progress of the CLARITY Act and understand its impact on digital asset regulation.
H.R. 1747
The CLARITY Act establishes a comprehensive framework for digital asset regulation in the United States. It defines clear jurisdictional boundaries between the SEC and CFTC, creates a taxonomy-based classification system for digital assets, and provides a pathway for tokens to transition from security to commodity status as networks become sufficiently decentralized.
Bill introduced in House
Jun 2025
House Financial Services Committee markup
Sep 2025
Passed House floor vote (276-158)
Nov 2025
Referred to Senate Banking Committee
Jan 2026
SEC/CFTC joint taxonomy released (33-11412)
Mar 2026
Senate Banking Committee hearings
Apr 2026
Expected Senate committee vote
Jun 2026
Potential Senate floor vote
Q3 2026
Conference committee / Presidential signature
Q4 2026
| Provision | Description | Impact |
|---|---|---|
| Jurisdictional Clarity | Establishes clear boundaries between SEC and CFTC oversight based on the five-category digital asset taxonomy defined in Release No. 33-11412. | Tokens classified as Digital Commodities fall under CFTC jurisdiction; Digital Securities remain with the SEC. Eliminates regulatory ambiguity. |
| Decentralization Safe Harbor | Creates a 3-year safe harbor for digital asset projects to achieve sufficient decentralization, after which tokens may transition from security to commodity classification. | New projects can operate under temporary SEC oversight while building toward decentralization, then petition for commodity reclassification. |
| Stablecoin Reserve Requirements | Mandates 1:1 reserve backing for payment stablecoins, monthly attestations by registered auditors, and redemption guarantees. | Stablecoin issuers must maintain full reserves in cash or short-term U.S. Treasuries and publish monthly proof-of-reserves. |
| Consumer Protection Standards | Requires digital asset exchanges to implement custody standards, disclosure requirements, and conflict-of-interest policies. | Exchanges must segregate customer assets, provide clear fee disclosures, and maintain minimum capital requirements. |
| Tax Clarity | Provides clear guidance on digital asset taxation including a de minimis exemption for small transactions and clarity on staking rewards. | Transactions under $200 are exempt from capital gains reporting. Staking rewards are taxed as income upon disposition, not receipt. |
| Innovation Sandbox | Creates a federal regulatory sandbox allowing innovative digital asset projects to operate under limited supervision for up to 2 years. | Startups can test new models with reduced regulatory burden while maintaining basic consumer protections. |
Jurisdictional Clarity
Establishes clear boundaries between SEC and CFTC oversight based on the five-category digital asset taxonomy defined in Release No. 33-11412.
Impact
Tokens classified as Digital Commodities fall under CFTC jurisdiction; Digital Securities remain with the SEC. Eliminates regulatory ambiguity.
Decentralization Safe Harbor
Creates a 3-year safe harbor for digital asset projects to achieve sufficient decentralization, after which tokens may transition from security to commodity classification.
Impact
New projects can operate under temporary SEC oversight while building toward decentralization, then petition for commodity reclassification.
Stablecoin Reserve Requirements
Mandates 1:1 reserve backing for payment stablecoins, monthly attestations by registered auditors, and redemption guarantees.
Impact
Stablecoin issuers must maintain full reserves in cash or short-term U.S. Treasuries and publish monthly proof-of-reserves.
Consumer Protection Standards
Requires digital asset exchanges to implement custody standards, disclosure requirements, and conflict-of-interest policies.
Impact
Exchanges must segregate customer assets, provide clear fee disclosures, and maintain minimum capital requirements.
Tax Clarity
Provides clear guidance on digital asset taxation including a de minimis exemption for small transactions and clarity on staking rewards.
Impact
Transactions under $200 are exempt from capital gains reporting. Staking rewards are taxed as income upon disposition, not receipt.
Innovation Sandbox
Creates a federal regulatory sandbox allowing innovative digital asset projects to operate under limited supervision for up to 2 years.
Impact
Startups can test new models with reduced regulatory burden while maintaining basic consumer protections.
Digital Commodities
Clear CFTC oversight. Spot market regulation. Consumer protection standards applied to exchanges.
Digital Securities
SEC jurisdiction maintained. 3-year safe harbor for decentralization. Pathway to commodity reclassification.
Stablecoins
1:1 reserve requirements. Monthly attestations. Redemption guarantees. Banking regulator coordination.
Collectibles & Tools
FTC consumer protection. Marketplace disclosures. Innovation sandbox for novel utility models.
Latest news and legislative milestones