CLARITY Act Would Allow US Banks to Engage in 11 Crypto Activities

The CLARITY Act has been analyzed by the Congressional Research Service, which found that it would allow US banks to engage in 11 categories of crypto activities.

The report, titled 'Crypto and Bank-Permissible Activities', examined how competing versions of H.R. 3633 would change banks' authority to conduct digital asset business.

The Senate-reported bill would make these activity categories available across banking organizations and credit unions without preserving the existing distinction between activities conducted inside insured banks and those assigned to nonbank subsidiaries.