CLARITY Act faces 44-50% Senate odds, Timmons says at hearing

Rep. William Timmons stood before the House Financial Services Committee in New York City on July 17 and deployed the kind of metaphor only a politician could love. The CLARITY Act, he said, is “on the 1-yard line” and Congress needs to “score the touchdown.”

The Digital Asset Market Clarity Act represents Congress’s most ambitious attempt to resolve the regulatory fog hanging over US crypto markets for years. With Senate passage odds hovering around 44% to 50%, the game is still very much being played.

The bill, introduced as H.R. 3633 on May 29, 2025, hands the Commodity Futures Trading Commission primary oversight of digital commodities. The Securities and Exchange Commission keeps limited authority over certain primary-market activities. The legislation defines “digital commodity” based on intrinsic blockchain use, deliberately carving out securities, derivatives, and stablecoins from that definition.

That distinction determines which federal agency writes the rulebook for any given token. The hearing, titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation,” was designed to make the case that this regulatory framework is not just housekeeping. Timmons and other supporters frame it as an economic competitiveness issue. Without clear rules, they argue, innovators and capital will simply move to jurisdictions that have them.