Sioux Empire Today

Today, a group of lawmakers introduced the Digital Asset Market Clarity (CLARITY) Act in Washington, D.C. The bill aims to establish a regulatory framework for digital assets in the United States. House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson is leading this initiative.

The legislation has several original co-sponsors who played crucial roles in its development. These include House Committee on Agriculture Chairman G.T. Thompson, House Majority Whip Tom Emmer, House Committee on Financial Services Chairman French Hill, and House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil.

Johnson stated that America should lead the global digital assets marketplace by establishing clear regulations. "This legislation gives our markets the clarity they need to thrive, protect consumers, and foster innovation," he said. He expressed gratitude for his colleagues' partnership and looked forward to advancing the legislation.

Thompson also emphasized the importance of introducing the CLARITY Act as a step toward providing certainty for digital asset entrepreneurs and markets. He believes this landmark legislation will protect consumers while promoting entrepreneurship and setting a global standard for future innovation.

Emmer described the bill as a bold step to ensure that Americans develop the next iteration of the internet based on American values. He acknowledged his colleagues' efforts in crafting what he considers a globally competitive framework.

Hill highlighted that their bill brings long-overdue clarity to the digital asset ecosystem while prioritizing consumer protection and American innovation. He expressed anticipation about delivering their bill to President Trump’s desk.

Steil spoke about America’s role in what he called "the golden age of digital assets." According to him, "The CLARITY Act ensures that financial innovation and development of digital assets occurs here in the United States."

Additional cosponsors include U.S. Rep. Warren Davidson, House Agriculture Committee Ranking Member Angie Craig, Rep. Don Davis, and Rep. Ritchie Torres.

Background information provided includes past legislative activities related to digital asset market structure: On May 22, 2024, FIT21 Act passed with bipartisan support; an op-ed by Hill and Thompson was published outlining their vision; hearings were held; discussion drafts released; joint roundtable discussions took place—all contributing towards shaping this current legislative effort.