The CLARITY Act — one of the most anticipated legislative initiatives in the American crypto industry. The new document is the result of years of discussions between regulators and market participants about how the crypto economy should operate, who should maintain order, and where the line lies between innovation and regulation.
Senators emphasize that the goal is not to strangle the crypto market, but to create clear and transparent rules that allow companies to operate legally, users — to be protected, and the state — to ensure the stability of the financial systеm. In essence, the bill is the first attempt in the U.S. to offer a unified legal foundation for all areas of the blockchain industry: from DeFi and DAO to custody and asset tokenization.
Key idea: a unified regulatory structure
At the center of attention — the question of jurisdiction. For many years, two U.S. regulators — the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) — have disputed who has the right to oversee the crypto-asset market. The CLARITY Act proposes a solution: distribute responsibility between the agencies and eliminate overlapping mandates.
- The CFTC becomes the primary regulator for the spot market and derivatives.
- The SEC retains oversight of digital securities (instruments deemed securities under U.S. law).
- A formal inter-agency mechanism for coordination and information-sharing is created to avoid conflicts and inconsistencies.
This should put an end to situations where companies receive conflicting directives from different regulators and investors find themselves in legal uncertainty.
What exactly the bill provides
The document is detailed and covers key aspects of how the crypto economy functions:
- Official definitions: for the first time at the federal level, legal definitions are introduced for blockchain, DeFi, DAO, custody, digital commodity, and other terms. This creates a legal basis for recognizing crypto projects as full-fledged participants in the financial market.
- Mandatory registration of market participants: all crypto exchanges, brokers, custodial services, and market makers must register and comply with unified reporting and audit standards.
- Supervision and accountability: a systеm of continuous oversight is introduced for infrastructure players, with requirements for internal risk management, capitalization, and operational transparency.
- Investor protection: companies are required to segregate client assets from corporate assets, preventing commingling and their use for the company’s own purposes. This is intended to prevent repeats of cases like FTX.
- Right to self-custody: for the first time, users receive a legally enshrined right to hold their digital assets themselves. No one can compel an investor to transfer control to third parties.
- Additional funding for the CFTC: budget expansion is envisaged and a new role is created — the retail investor advocate, who will represent the interests of individual users.
Why the market needs this law
Today, the U.S. crypto industry runs into a primary barrier — the lack of clear rules. Companies often do not understand which regulator applies to them, and users risk ending up in a gray zone. The CLARITY Act is designed to change this.
- 1. Eliminates conflicts between agencies. Clear separation of the CFTC’s and SEC’s powers reduces the risk of duplicative requirements and legal disputes.
- 2. Makes registration and listing more transparent. Clear criteria will allow exchanges and projects to enter the U.S. market legally without fear of sanctions.
- 3. Strengthens user protection. Strict custodial and audit standards enhance infrastructure reliability, and the right to self-custody provides legal protection.
- 4. Creates conditions for institutional players. A clear regulatory base signals to banks, funds, and corporations that the market is becoming predictable and safe. This can spark a new inflow of capital and increase liquidity.
Context and international significance
Adoption of the CLARITY Act could become a turning point not only for the U.S., but for the global crypto industry. U.S. law traditionally exerts strong influence on world markets — from finance to technology.
After the European MiCA regulation was implemented, the U.S. remained the “missing element” of the international mosaic. CLARITY can close this gap and set a new global standard of transparency and protection for crypto projects.
This is especially important against the backdrop of DeFi growth, tokenization of real-world assets, and integration of blockchain into banking systems. When the world’s largest economy establishes unified rules, other countries are forced to adapt.
How the market is reacting
Industry representatives have already responded to the bill’s introduction. Companies like Coinbase, Kraken and Gemini have supported the initiative, noting that clear rules and codifying the right to self-custody are important steps toward industry maturity.
Analysts also assess the document positively. In their view, CLARITY can stimulate growth in the number of licensed companies and reduce the frequency of legal conflicts. Institutional investors, in turn, will be able to enter the market officially, which will strengthen trust and accelerate the inflow of liquidity.
There are skeptics as well. Some legal experts warn that giving the CFTC the leading role may create “regulatory gaps” for tokens that do not fit neatly within the definitions of a commodity or a security. The question of how flexible the new rules will be so as not to stifle innovation also remains.
What’s next
After its presentation, the document will be sent to the relevant congressional committees. If it gains the support of both chambers, the U.S. will, for the first time, have a comprehensive legislative framework for regulating digital assets.
Experts note that implementation of CLARITY may take from six months to a year, but the very fact that such a large-scale law is being discussed shows that the U.S. is moving toward institutionalizing the crypto market. In the coming months, hearings, amendments, and likely heated debates between industry lobbyists and financial regulators are expected.
Conclusion: a new stage of maturity
The CLARITY Act — not just another bill. It signals to the world that cryptocurrency is ceasing to be the “Wild West” and is becoming part of a civilized financial systеm. The document builds a bridge between innovation and regulation, between the freedom of decentralization and responsibility to users.
Yes, many discussions and refinements lie ahead. But the very appearance of such a document shows that the U.S. is preparing for an era in which the crypto industry is no longer an experiment and becomes a full-fledged part of the economy.
CLARITY does not merely create guardrails. It lays the foundation on which the future of the crypto market will be built — transparent, safe, and institutionally mature.