--- title: "Digital Asset Market Clarity Act" identifier: "119-HR-3633" congress: 119 bill_number: 3633 bill_type: "HR" version_code: "rs" version_type: "Reported in Senate" bill_url: "https://chamberzero.com/congresses/119/bills/hr/3633" source: "https://www.congress.gov/bill/119th-congress/house-bill/3633" other_versions: - { code: "rfs", type: "Referred in Senate", date: "2025-09-18", url: "https://chamberzero.com/congresses/119/bills/hr/3633/text.md?version=rfs" } - { code: "eh", type: "Engrossed in House", date: "2025-07-17", url: "https://chamberzero.com/congresses/119/bills/hr/3633/text.md?version=eh" } - { code: "rh", type: "Reported in House", date: "2025-06-23", url: "https://chamberzero.com/congresses/119/bills/hr/3633/text.md?version=rh" } - { code: "ih", type: "Introduced in House", date: "2025-05-29", url: "https://chamberzero.com/congresses/119/bills/hr/3633/text.md?version=ih" } site: "Chamber Zero" site_url: "https://chamberzero.com" rendered_at: "2026-06-03T23:48:35.602Z" --- # TITLE I — Responsible securities innovation ## SEC. 101 Short title. [Read Section 101 →](/congresses/119/bills/hr/3633/sections/TI-101.md) ## SEC. 102 Disclosure requirements for certain transactions involving ancillary assets. [Read Section 102 →](/congresses/119/bills/hr/3633/sections/TI-102.md) ## SEC. 103 Exemption and rulemaking for certain transactions involving ancillary assets. [Read Section 103 →](/congresses/119/bills/hr/3633/sections/TI-103.md) ## SEC. 104 Special disposition restrictions by related persons. [Read Section 104 →](/congresses/119/bills/hr/3633/sections/TI-104.md) ## SEC. 105 Characteristics of network tokens. [Read Section 105 →](/congresses/119/bills/hr/3633/sections/TI-105.md) ## SEC. 106 Exemptive authority. [Read Section 106 →](/congresses/119/bills/hr/3633/sections/TI-106.md) ## SEC. 107 Modernization of recordkeeping requirements. [Read Section 107 →](/congresses/119/bills/hr/3633/sections/TI-107.md) ## SEC. 108 Modernization of securities regulations for digital asset activities. [Read Section 108 →](/congresses/119/bills/hr/3633/sections/TI-108.md) ## SEC. 109 Insider trading with respect to ancillary asset transactions. [Read Section 109 →](/congresses/119/bills/hr/3633/sections/TI-109.md) ## SEC. 110 Securities Investor Protection Corporation applicability. [Read Section 110 →](/congresses/119/bills/hr/3633/sections/TI-110.md) ## SEC. 111 Investor and consumer protection enforcement. [Read Section 111 →](/congresses/119/bills/hr/3633/sections/TI-111.md) # TITLE II — Protecting against illicit finance ## SEC. 201 Treatment under the Bank Secrecy Act and sanctions laws. [Read Section 201 →](/congresses/119/bills/hr/3633/sections/TII-201.md) ## SEC. 202 Digital asset examination standards. [Read Section 202 →](/congresses/119/bills/hr/3633/sections/TII-202.md) ## SEC. 203 Preventing Illicit Finance Through Partnership Act. [Read Section 203 →](/congresses/119/bills/hr/3633/sections/TII-203.md) ## SEC. 204 Financial Technology Protection Act. [Read Section 204 →](/congresses/119/bills/hr/3633/sections/TII-204.md) ## SEC. 205 Digital asset kiosks. [Read Section 205 →](/congresses/119/bills/hr/3633/sections/TII-205.md) ## SEC. 206 Study on illicit use of digital assets. [Read Section 206 →](/congresses/119/bills/hr/3633/sections/TII-206.md) # TITLE III — Responsible innovation in decentralized finance ## SEC. 301 Rulemaking on application of existing securities intermediary requirements and existing Bank Secrecy Act requirements to non-decentralized finance trading protocols. [Read Section 301 →](/congresses/119/bills/hr/3633/sections/TIII-301.md) ## SEC. 302 Illicit finance obligations for distributed ledger messaging systems. [Read Section 302 →](/congresses/119/bills/hr/3633/sections/TIII-302.md) ## SEC. 303 Special measure relating to certain transmittals of funds. [Read Section 303 →](/congresses/119/bills/hr/3633/sections/TIII-303.md) ## SEC. 304 Offshore stablecoin report. [Read Section 304 →](/congresses/119/bills/hr/3633/sections/TIII-304.md) ## SEC. 305 Temporary hold for certain digital asset transactions. [Read Section 305 →](/congresses/119/bills/hr/3633/sections/TIII-305.md) ## SEC. 306 Voluntary cybersecurity program for decentralized finance trading protocols. [Read Section 306 →](/congresses/119/bills/hr/3633/sections/TIII-306.md) ## SEC. 307 Amendments to monetary instrument definition. [Read Section 307 →](/congresses/119/bills/hr/3633/sections/TIII-307.md) ## SEC. 308 Risk management standards for digital asset intermediaries. [Read Section 308 →](/congresses/119/bills/hr/3633/sections/TIII-308.md) ## SEC. 309 Study on digital asset mixers and tumblers. [Read Section 309 →](/congresses/119/bills/hr/3633/sections/TIII-309.md) ## SEC. 310 GAO study on intermediaries in foreign jurisdictions. [Read Section 310 →](/congresses/119/bills/hr/3633/sections/TIII-310.md) ## SEC. 311 Studies on foreign adversary activities. [Read Section 311 →](/congresses/119/bills/hr/3633/sections/TIII-311.md) ## SEC. 312 Treasury study on cybersecurity standards. [Read Section 312 →](/congresses/119/bills/hr/3633/sections/TIII-312.md) ## SEC. 313 Studies on financial stability risks of decentralized finance trading and credit in digital commodity markets. [Read Section 313 →](/congresses/119/bills/hr/3633/sections/TIII-313.md) # TITLE IV — Responsible banking innovation ## SEC. 401 Permissibility of digital asset activities. [Read Section 401 →](/congresses/119/bills/hr/3633/sections/TIV-401.md) ## SEC. 402 Joint rules for portfolio margining determinations. [Read Section 402 →](/congresses/119/bills/hr/3633/sections/TIV-402.md) ## SEC. 403 Capital requirements to address netting agreements. [Read Section 403 →](/congresses/119/bills/hr/3633/sections/TIV-403.md) ## SEC. 404 Prohibiting interest and yield on payment stablecoins. [Read Section 404 →](/congresses/119/bills/hr/3633/sections/TIV-404.md) ## SEC. 405 Expanded securities portfolio margin accounts under the Securities Investor Protection Act of 1970. [Read Section 405 →](/congresses/119/bills/hr/3633/sections/TIV-405.md) # TITLE V — Responsible regulatory innovation ## SEC. 501 CFTC-SEC Micro-Innovation Sandbox. [Read Section 501 →](/congresses/119/bills/hr/3633/sections/TV-501.md) ## SEC. 502 International cooperation. [Read Section 502 →](/congresses/119/bills/hr/3633/sections/TV-502.md) ## SEC. 503 Automated regulatory compliance study. [Read Section 503 →](/congresses/119/bills/hr/3633/sections/TV-503.md) ## SEC. 504 Report on legislative recommendations. [Read Section 504 →](/congresses/119/bills/hr/3633/sections/TV-504.md) ## SEC. 505 Tokenization of securities. [Read Section 505 →](/congresses/119/bills/hr/3633/sections/TV-505.md) ## SEC. 506 Voluntary adoption of National Institute of Standards and Technology post-quantum cryptography standards. [Read Section 506 →](/congresses/119/bills/hr/3633/sections/TV-506.md) ## SEC. 507 International coordination to combat digital asset illicit finance. [Read Section 507 →](/congresses/119/bills/hr/3633/sections/TV-507.md) ## SEC. 508 Annual report on foreign digital asset trading volume, compliance with United States standards and remediation actions. [Read Section 508 →](/congresses/119/bills/hr/3633/sections/TV-508.md) ## SEC. 509 AI innovation labs. [Read Section 509 →](/congresses/119/bills/hr/3633/sections/TV-509.md) # TITLE VI — Protecting software developers and software innovation ## SEC. 601 Protecting software developers. [Read Section 601 →](/congresses/119/bills/hr/3633/sections/TVI-601.md) ## SEC. 602 Safe harbor for nonfungible tokens. [Read Section 602 →](/congresses/119/bills/hr/3633/sections/TVI-602.md) ## SEC. 603 Study on nonfungible tokens. [Read Section 603 →](/congresses/119/bills/hr/3633/sections/TVI-603.md) ## SEC. 604 Blockchain Regulatory Certainty Act. [Read Section 604 →](/congresses/119/bills/hr/3633/sections/TVI-604.md) ## SEC. 605 Keep Your Coins Act. [Read Section 605 →](/congresses/119/bills/hr/3633/sections/TVI-605.md) # TITLE VII — Protecting customer property ## SEC. 701 Customer property protections for ancillary assets and digital commodities in bankruptcy. [Read Section 701 →](/congresses/119/bills/hr/3633/sections/TVII-701.md) ## SEC. 702 Insolvency safe harbor. [Read Section 702 →](/congresses/119/bills/hr/3633/sections/TVII-702.md) # TITLE VIII — Customer protection ## SEC. 801 Educational materials. [Read Section 801 →](/congresses/119/bills/hr/3633/sections/TVIII-801.md) ## SEC. 802 Savings clauses. [Read Section 802 →](/congresses/119/bills/hr/3633/sections/TVIII-802.md) ## SEC. 803 Study on expanding financial literacy. [Read Section 803 →](/congresses/119/bills/hr/3633/sections/TVIII-803.md) ## SEC. 804 Consultation with SIPC regarding mandatory broker-dealer disclosures to investors concerning the status of payment stablecoins and digital commodities. [Read Section 804 →](/congresses/119/bills/hr/3633/sections/TVIII-804.md) # TITLE IX — Other matters ## SEC. 901 Joint Advisory Committee on Digital Assets. [Read Section 901 →](/congresses/119/bills/hr/3633/sections/TIX-901.md) ## SEC. 902 Memorandum of understanding. [Read Section 902 →](/congresses/119/bills/hr/3633/sections/TIX-902.md) ## SEC. 903 FinCEN appropriations. [Read Section 903 →](/congresses/119/bills/hr/3633/sections/TIX-903.md) ## SEC. 904 Build Now Act. [Read Section 904 →](/congresses/119/bills/hr/3633/sections/TIX-904.md) ## SEC. 905 Rulemakings. [Read Section 905 →](/congresses/119/bills/hr/3633/sections/TIX-905.md) ## SEC. 906 Effective date. [Read Section 906 →](/congresses/119/bills/hr/3633/sections/TIX-906.md)