CLARITY Act Advances
US crypto law nears landmark legislation
The CLARITY Act has advanced in the US legislative process, passing the House of Representatives in July 2025 by a wide bipartisan margin and clearing a key Senate committee in May 2026. The act aims to provide clarity on the regulatory framework for cryptocurrency and blockchain-based assets, which have been subject to uncertainty and conflicting oversight by different regulatory agencies. During Gary Gensler's tenure as SEC Chair from 2021 to 2025, the agency launched numerous enforcement actions against crypto companies under existing securities laws, while the CFTC generally oversaw commodity derivatives.
The central problem is that US financial laws were not originally written for blockchain-based assets, leaving many market participants unsure which rules applied when launching a token, listing an asset, or offering crypto trading services. The CLARITY Act seeks to address this issue by providing a clear framework for the regulation of digital assets. An important provision in the bill is the Blockchain Regulatory Certainty Act, which states that software developers should not be liable for using the application of third parties unless they knowingly support any criminal activities. However, law enforcement has criticized this provision, arguing that it could hinder their ability to regulate the industry.
Meanwhile, in the Philippines, the Securities and Exchange Commission (SEC) has signaled that the country is ready to accommodate the tokenization of real-world assets (RWAs). Commissioner Rogelio Quevedo stated that he believes the necessary legal and regulatory foundations are in place. Tokenization converts physical or financial assets into digital tokens recorded on a blockchain, increasing liquidity and allowing investors to buy fractions of assets. The Philippine SEC has opened the door to tokenized real-world assets, with Quevedo emphasizing that any regulatory adjustments will be applied within the scope of current law and supervision.
The development of the CLARITY Act and the Philippine SEC's stance on tokenization are significant for the crypto industry, which has been seeking clarity on regulatory frameworks. The advancement of the CLARITY Act and the Philippine SEC's openness to tokenization may pave the way for greater adoption of blockchain-based assets and tokenized real-world assets. As the regulatory landscape continues to evolve, market participants are watching closely to see how these developments will impact the industry. Binance's renewed accessibility in the Philippines through a local arrangement with BlockShoals Technologies is also being closely watched, with the company's activities limited to regulated crypto trading access under the SEC.
As I reflect on the CLARITY Act advancing, I firmly believe that its passage is crucial for promoting transparency in corporate practices. In my opinion, if this act does not become law, large corporations will be the ultimate winners, continuing to operate with minimal accountability and oversight. They will be able to maintain their secretive ways, potentially harming consumers and the environment. I argue that the CLARITY Act is necessary to level the playing field and ensure that corporations are held to the same standards as individuals, and I will be closely following its progress to see if it can bring about the much-needed change.
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