Two important regulatory bills that could be considered historic for the cryptocurrency sector in the US have gained significant momentum in both houses of Congress. In the House of Representatives, the “Digital Asset Market Structure Clarity Act” and in the Senate, the stablecoin bill known as the “GENIUS Act” have passed consecutive votes, bringing them one step closer to becoming law.
Overwhelming vote for the CLARITY Act: 47 to 6
On June 11, 2025, the CLARITY Act was approved by a strong majority of 47 to 6 in a vote held by the House Agriculture Committee. The bill's official name is H.R. 3633, and it is moving forward with bipartisan support. The bill aims to clarify which category crypto assets fall under in the US regulatory framework. Specifically, it seeks to provide a final resolution to the long-standing debate over whether cryptocurrencies should be classified as “securities” or “commodities.”
This distinction is extremely critical, as when a cryptocurrency is defined as a security, regulatory authority falls under the U.S. Securities and Exchange Commission (SEC), while when it is defined as a commodity, it falls under the U.S. Commodity Futures Trading Commission (CFTC).
Lawmakers supporting the bill emphasized that the digital asset sector has been lacking a clear regulatory framework for years, while opponents were given until Friday to submit their objections. The CLARITY Act will now undergo further scrutiny in the House Financial Services Committee, its next stop.
The bill also includes a proposed amendment to limit the legal liability of software developers behind crypto projects. However, the Committee has not yet held a formal vote on this additional regulation.
Majority secured for GENIUS Act in Senate
On the same day, the US Senate also witnessed a significant development in terms of digital asset regulations. The “GENIUS Act” bill was approved in the first vote by 68 to 30. This “cloture” vote limits debate on the bill and paves the way for the final vote. The GENIUS Act is expected to be put to a final vote in the Senate plenary session in the coming days, likely early next week.
The GENIUS Act aims to establish a federal oversight framework specifically targeting the stablecoin market. Stablecoins, with a market value exceeding $254 billion, are increasingly taking on a strategic role in both daily payments and investment interest in government bonds.
Former Treasury Secretary Scott Bessent described the impact of US-based stablecoins on global payment systems as “an opportunity to strengthen the dollar's global dominance,” while the Federal Reserve also views stablecoins as a new payment tool that could serve as an alternative to the traditional banking system.
