U.S. House Reviews CLARITY Act Impacting Bitcoin Amid Crypto Trading Amendments

The U.S. House Financial Services Committee and Agriculture Committee are currently evaluating the CLARITY Act, a pivotal bill aimed at enhancing regulatory transparency in the digital asset sector. Notably, Amendment #2, which sought to bar former President Trump and his family from profiting through crypto trading or endorsements, was decisively rejected, with Chairman Thompson emphasizing that ethical considerations regarding the president fall outside the committee’s scope. Meanwhile, Amendment #1, proposing a broad reauthorization of the Commodity Futures Trading Commission (CFTC), was also dismissed. Conversely, Amendment #6 received approval, empowering the CFTC to impose increased fees on market participants, potentially bolstering regulatory funding. Additional amendments concerning Trump remain under consideration by other congressional members. As the legislative review progresses, the final provisions of the CLARITY Act remain uncertain, underscoring ongoing efforts to refine the U.S. digital asset regulatory framework.