House committees advance crypto market structure regulation to floor vote: CNBC Crypto World
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House Committees Advance Bill to Regulate Crypto Market
Above: Rep. Glenn Thompson and ranking member Rep. Angie Craig in Washington, D.C. on June 10, 2025. Image copyright: Bill Clark/CQ-Roll Call, Inc/Getty Images
The Spin
Republican narrative
The CLARITY Act delivers clear, balanced crypto regulations, ending years of uncertainty that hindered innovation. By splitting oversight between the SEC and CFTC, it protects consumers while promoting growth, transparency, and self-custody rights — positioning America as the global crypto capital. Alongside the GENIUS Act’s stablecoin rules, these bills reinforce U.S. financial leadership and cement the dollar’s position as the dominant global currency.
Democratic narrative
Republicans are fast-tracking the so-called CLARITY Act, a bill that strips away core protections and opens the door to predatory crypto schemes. It lets firms self-certify compliance — bypassing oversight and neutering regulators — while exposing investors to massive risk and enabling unchecked fraud. The bill not only enriches Trump through his corrupt crypto ventures but accelerates a broader financial crisis built on deregulation and abuse.
Cynical narrative
Republicans are fast-tracking the CLARITY Act, but even industry insiders now admit it’s unlikely to become law. Trump's deep ties to crypto have turned the bill into a political liability, making bipartisan support nearly impossible. With growing partisan tension and only minimal Democratic backing, the bill faces steep odds. Despite public optimism, most know this effort is stalled and likely done for the year.