Key Takeaways
- The CLARITY Act would split crypto oversight between two regulators. Digital commodities like Bitcoin would go to the CFTC, while tokens tied to a fundraise or a central team would stay with the SEC. It is the furthest any U.S. crypto market-structure bill has advanced. [1]
- If enacted, miners would get the strongest federal protection of any bill to date. As drafted, it treats mining and validation as network infrastructure, not asset management, and would confirm that non-custodial miners are not money transmitters or brokers. [1] [3]
- It is not law yet, and the details still matter. The bill passed the House 294 to 134 in July 2025 and cleared the Senate Banking Committee in May 2026. It still needs a full Senate vote, and the protections are narrower and more conditional than the headlines suggest. [2]
For years, the biggest risk hanging over crypto in the U.S. wasn’t price. It was the question of who regulates what, and whether an activity might suddenly be reclassified as an illegal securities operation. The Digital Asset Market Clarity Act, better known as the CLARITY Act, is Congress’s most serious attempt yet to answer that question. Here is what the bill says, and, just as important, what it does not settle.
What the CLARITY Act Does
The bill draws a line between two types of digital assets and assigns each to a different regulator. Digital commodities such as Bitcoin would fall under the Commodity Futures Trading Commission (CFTC), which gains exclusive authority over spot markets. Tokens that function as securities, meaning those tied to a fundraise or a centralized team, would stay with the Securities and Exchange Commission (SEC). [1]
To decide which bucket a token lands in, the Act creates a decentralization test. A blockchain is treated as a mature digital commodity when it is functional, built on open-source code, runs on transparent rules, and is not controlled by any single person or group holding 20% or more of the tokens. Bitcoin clears this bar comfortably. [1] [4]
Why It Matters for Miners
This is where the bill is most significant for mining. As drafted, the CLARITY Act treats mining and validation as network infrastructure, not financial intermediation. A miner earning block rewards would not be regulated like a bank or a broker handling other people’s money. That would remove a layer of regulatory uncertainty that has made some institutions cautious about deploying capital into mining, and it makes the category easier for a serious investor to underwrite. [3]
One point worth being precise about: the protection is strongest for genuinely non-custodial actors. A pure miner is squarely covered. The safe harbor is on firmer ground when the operator does not take custody of client coins or intermediate payouts. This is exactly how BlockOps is structured. Clients retain title to their equipment at all times, and Bitcoin payouts flow directly to the client through NiceHash, which keeps hosted miners in the clearest lane the bill contemplates. [3]
What Could Still Change
We would rather give you the honest picture than oversell a bill that is still moving. A few caveats to keep in mind:
- It is not law. The bill still needs a full Senate vote, and the practical window for 2026 runs up against the August recess. It could be amended, delayed, or stall entirely. [2]
- The miner shield is narrower than the headlines. Protection is strongest for non-custodial activity. Any business in the mining stack that takes custody or intermediates funds sits in a grayer area, so the details of how you operate matter. [3]
- It means more regulation, not less, for much of the ecosystem. Exchanges, brokers, and dealers in digital commodities would register with the CFTC for the first time, adding compliance cost. There are also open questions about whether the CFTC is resourced to oversee all of crypto’s spot markets. [1] [4]
- The definitions leave edge cases. The 20% control threshold and what counts as a “mature” blockchain will get tested, and agencies keep their anti-fraud and anti-manipulation authority regardless. None of this is legal advice. [1]
The direction of travel is toward clarity, and toward treating Bitcoin mining as legitimate infrastructure. That rewards operators who already run clean, transparent, professional facilities. BlockOps runs five owner-operated facilities in Arkansas at $0.08 per kWh transparent pass-through, with curtailment capped at 120 hours per year in writing. Clients keep title to their hardware and are paid directly. As the rules get clearer, the case for hosting with an operator that owns what it runs, and tells you the truth about what is and isn’t settled, only gets stronger.
Sources
[1] Digital Asset Market Clarity Act, H.R. 3633 (full bill text) — Congress.gov
[2] The Facts: The CLARITY Act — U.S. Senate Committee on Banking, Housing, and Urban Affairs
[3] Clarifying the CLARITY Act — Arnold & Porter advisory
[4] Overview of H.R. 3633, the CLARITY Act — Congressional Research Service