The U.S. House Agriculture Committee has advanced a major cryptocurrency market structure bill known as the Digital Asset Market Clarity (CLARITY) Act with strong bipartisan support. 

The committee voted 47-6 on Tuesday in favor of advancing the legislation, which aims to establish a clear regulatory framework for digital assets in the U.S.

This story is an excerpt from the Unchained Daily newsletter.

Specifically, the bill seeks to clarify the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in overseeing digital asset markets, addressing regulatory gaps and jurisdictional overlaps.

Although the Agriculture Committee has moved the bill forward, the House Financial Services Committee — which shares jurisdiction over crypto activities — is still debating amendments and has not yet voted on it. 

Both committees must advance their respective sections before a unified bill can be sent to the full House for consideration.