A new crypto bill backed by former President Donald Trump has been formally introduced in the U.S. House of Representatives by Republican lawmakers.
Titled the Digital Asset Market Clarity Act, the legislation aims to eliminate regulatory uncertainty in the crypto space by designating the Commodity Futures Trading Commission (CFTC) as the primary oversight body. Platforms would be required to register with either the SEC or CFTC, depending on the type of digital assets they offer.
The bill also grants temporary licenses to crypto exchanges, brokers, and dealers, and brings them under scrutiny through the Bank Secrecy Act. Notably, DeFi platforms and crypto wallet providers would be exempt from SEC oversight. The bill clearly states that stablecoins are not securities, leaving regulatory responsibility to the agencies currently overseeing the issuing institutions.
Republican Representative Dusty Johnson, a lead sponsor of the bill, emphasized the need for a clear legal framework to help the U.S. lead in digital assets. While the Senate is currently focused on stablecoin regulation, it's unclear whether the two legislative efforts can be merged and presented to Trump by the August deadline, a goal that many in Washington view as ambitious.
