US Crypto Market Structure Bill Awaits Senate Approval Amid Regulatory Clarity Efforts

The Digital Asset Market Clarity Act of 2025 is a proposed federal market-structure framework for crypto in the US, currently awaiting Senate approval. H.R. 3633, introduced on May 29, 2025, aims to divide oversight between the SEC and CFTC by setting statutory rules for digital asset classification, trading platforms, and intermediaries.

The bill would create categories for digital commodities, securities, and ancillary assets, with distinct regulators and rulebooks. The House passed it in 2025, but it is not law yet.

Bitcoin, Ethereum, and XRP are likely to fall on the digital-commodity side due to their decentralized networks. However, classification would depend on enacted definitions and how regulators apply them.