Key Takeaways
- The U.S. is moving closer to passing the GENIUS Act and CLARITY Act—two landmark crypto bills.
- The GENIUS Act aims to regulate payment stablecoins with bipartisan support.
- The CLARITY Act designates the CFTC as the main crypto regulator, resolving years of legal ambiguity.
- Industry leaders call it a turning point for the crypto economy.
Years of legal fog may soon lift for the U.S. crypto industry.
Two major pieces of legislation—the CLARITY Act and the GENIUS Act —are moving through Congress and could become law within weeks.
If passed, the bills would mark a historic pivot in Washington’s approach to crypto, offering long-awaited clarity on stablecoin regulation and regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
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Two Crypto Bills, Two Missions
The GENIUS Act—short for Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025—lays out a framework for payment stablecoins.
It focuses on consumer protections, financial stability, and federal oversight of dollar-pegged digital currencies.
Senators Bill Hagerty, Tim Scott, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks support this bipartisan effort.
After an initial stumble in the Senate, the bill has made key amendments and passed a crucial cloture vote. A final vote is now scheduled for Tuesday, June 17.
The CLARITY Act—Digital Asset Market Clarity Act of 2025—tackles one of the most contentious issues in U.S. crypto regulation: who’s in charge?
For years, the SEC under Gary Gensler aggressively pursued enforcement actions against crypto companies, often drawing criticism for regulatory overreach.
The CLARITY Act would resolve this by formally assigning the CFTC as the lead regulator for digital commodities, while the SEC would oversee tokenized securities.
The bill has already cleared the Finance Committee and awaits a full Senate vote.
Industry Voices: “This Changes Everything”
To understand the significance of these bills, CCN spoke with top figures across the crypto space.
Paul Brody, EY’s Global Blockchain Leader, called the legislation a “galvanizing moment” for the market.
“In the short term, it’s going to reshape payments,” he said. “Companies and consumers will be drawn to low-cost, programmable transactions—especially in cross-border markets, where regulatory clarity on both sides is key.”
Brody believes the clarity provided by these bills will accelerate mainstream adoption of stablecoins and crypto infrastructure in global finance.
Tony Pham, fractional CMO at Kava Labs, echoed that optimism, especially for institutional players.
“From my own experience, institutions want in—but they’ve been held back by legal uncertainty,” he said. “Clear stablecoin rules will open the floodgates. We could see a wave of stablecoin adoption in remittances, global payments, and even traditional banking.”
On the CLARITY Act, Pham pointed to growing industry consensus around the CFTC’s role.
“The CFTC has historically taken a more nuanced approach to digital assets, recognizing them as commodities rather than securities in most cases. This distinction is crucial — cryptocurrencies function more like digital commodities than traditional securities,” he explained.
“The CFTC’s experience with derivatives and commodity markets makes them better equipped to understand the unique characteristics of crypto assets.”
A Defining Moment for U.S. Crypto
If the GENIUS and CLARITY Acts pass into law, the U.S. could finally move past the regulatory ambiguity that has haunted its crypto sector for over a decade.
More than just legislation, these bills represent a new chapter—one where the U.S. may once again lead the world in financial innovation, with rules built to empower growth rather than suppress it.
The final votes are just weeks away. But in the eyes of the industry, the impact is already being felt.
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