The CLARITY Act represents one of the most significant attempts to bring regulatory order to the US digital asset market.
By drawing a clearer line between the SEC and CFTC, introducing the mature blockchain test, and addressing DeFi, stablecoins, AML compliance, and tax reporting, the bill could reshape how crypto businesses and users operate within the US legal system.
The CLARITY Act includes a carve-out for non-custodial developers and truly decentralized protocols, but DeFi platforms that interact with custodial services may still face compliance requirements.