The Digital Asset Market Clarity Act (CLARITY Act) moved forward in the Senate on May 14, 2026 after Senator Cynthia Lummis highlighted on June 22, 2026 the legal risks confronting developers of decentralized finance tools, wallets, and other on‑chain services.
Legislative Framework
The CLARITY Act proposes a bifurcated regulatory regime, assigning oversight of digital assets to the Securities and Exchange Commission for securities‑type tokens and to the Commodity Futures Trading Commission for commodity‑type tokens. It also embeds provisions that would exempt blockchain developers and infrastructure providers who never hold customer funds from being labeled as money transmitters, thereby avoiding costly licensing and surveillance duties.