It’s time to pass the CLARITY Act

Coin Center supports the passage of the Digital Asset Market Clarity (CLARITY) Act of 2025 and will continue engagement with Congress to ensure that final market structure legislation upholds Coin Center’s priorities. CLARITY is a thoughtful and comprehensive framework for the regulation of digital asset markets. Coin Center has supported and encouraged the creation of a de novo federal regulatory regime for trusted entities in the cryptocurrency ecosystem since 2018; we understand how long the road to CLARITY has been and eagerly await its passage into law.

We are especially encouraged by the inclusion of Whip Emmer and Rep. Torres’ Blockchain Regulatory Certainty Act in Section 109. This provision offers long-overdue clarity to developers and infrastructure providers who build non-custodial blockchain technologies. Codifying the long-standing principles in FinCEN’s 2019 guidance, this language ensures that Americans can continue to innovate without fear of being inappropriately regulated or prosecuted as unlicensed money transmitters.

We also appreciate the Committee’s engagement with stakeholders, including Coin Center, on other aspects of the bill—particularly provisions clarifying that non-custodial decentralized finance (DeFi) tools are not subject to registration requirements intended for intermediaries. Coin Center has lingering reservations over some of the recent changes to these exclusions, however we have been working with lawmakers and trust that remaining concerns can be addressed.

The CLARITY Act reflects meaningful bipartisan work across committees and incorporates important refinements that balance innovation with consumer protection and financial integrity. Coin Center strongly supports these efforts and stands ready to assist members as the bill advances.