Washington, D.C.— Today, Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis (R-WY) released updated text for the Digital Asset Market Clarity Act (H.R. 3633), which reflects the merged work products of the Banking and Agriculture Committees.
“This is another step in my years-long journey to ensure the U.S. leads the way on digital assets,” said Lummis. “The U.S. has always been at the forefront of financial innovation, and the coming weeks are likely the last real chance we will have for years to get this right. I want to thank Chairman Scott, Chairman Boozman, and Leader Thune for their support and leadership, and I look forward to partnering with them to ensure the U.S. leads the way in digital assets for generations to come. I also want to thank my Democratic colleagues for their important contributions to this draft, and express my commitment to reaching a deal in the coming days that will allow this legislation to become law.”
Chairman Boozman, who is leading the Agriculture Committee portion said:
“This legislation establishes a clear, regulatory framework for digital commodities,” said Boozman. “It delivers the certainty consumers, businesses and markets have been calling for by creating strong safeguards while supporting responsible innovation. This is the result of months of bipartisan collaboration and continued conversations with stakeholders to strengthen the final bill. It’s time for the Senate to pass this legislation and provide the regulatory clarity the marketplace needs to ensure the U.S. remains a global leader.”
Chairman Scott, who is leading the Banking Committee portion said:
“As a kid raised by a single mom in South Carolina, I saw firsthand how access to opportunity can change the course of a family’s life,” said Scott. “That’s what the Clarity Act is about: protecting everyday Americans and their hard-earned money, giving entrepreneurs a fair shot to build and create jobs here at home, and strengthening our national security by making it harder for criminals and foreign adversaries to exploit our financial system. I’m grateful to the Senate Agriculture Committee Chairman Boozman and Digital Assets Subcommittee Chair Lummis for their partnership, and I look forward to working together to get this bill across the finish line.”
In 2022, Senator Lummis and Senator Kirsten Gillibrand (D-NY) introduced the Responsible Financial Innovation Act, a comprehensive bipartisan bill to establish the first regulatory framework for digital assets in the United States, dividing oversight jurisdiction between the SEC and CFTC.
In 2023, Senators Lummis and Gillibrand reintroduced the legislation.
In July of 2025, Senator Lummis, Senate Banking Chairman Tim Scott (R-SC), and Senators Bill Hagerty (R-TN), and Bernie Moreno (R-OH) released a Senate discussion draft of the Responsible Financial Innovation Act of 2025.
In May 2026, the Digital Asset Market Clarity Act passed out of the Banking Committee by a 15 to 9 bipartisan vote.
Senator Lummis is the Senate’s leading voice on digital assets, having authored the foundational legislative framework that helped shape the path for comprehensive market structure. As Chair of the Senate Banking Subcommittee on Digital Assets, she continues to lead the effort to establish clear, commonsense rules that keep the U.S. at the forefront of financial innovation and give consumers the confidence they need to safely participate in the U.S. economy.
Bill text can be found here.
Fraud and Anti-Money Laundering