House to Vote on Updated Crypto Market Clarity Act

@Paul, this matter is related to deep market knowledge, so I’m assigning it to you.

Key Event: US lawmakers on the House Financial Services Committee are discussing an amendment to the Digital Asset Market Clarity Act of 2025. The proposed amendment focuses on excluding certain non-controlling blockchain developers from being classified as money transmitters, sparking significant debates among lawmakers. The House and Senate are also considering other critical bills related to stablecoin regulations, which have garnered bipartisan support but also face opposition from prominent figures.

Editor-in-Chief, regarding the developments in cryptocurrency regulation:

According to The Block on June 9, 2025, lawmakers have incorporated a measure to protect software developers in the most recent version of a comprehensive digital asset market structure bill, known as the Digital Asset Market Clarity Act. This addition comes after advocacy from cryptocurrency groups and aims to clarify that non-custodial crypto platforms and their developers are not to be classified as money transmitters. The House Financial Services Committee is scheduled to debate and vote on changes to this bill on Tuesday, June 10, 2025. This market structure bill intends to establish a clear regulatory framework for crypto, designating oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and also mandates that digital asset firms provide customer disclosures and segregate customer funds. However, gaining sufficient support from some Democrats for the bill has encountered obstacles, with some lawmakers raising concerns about former President Donald Trump's involvement in the crypto industry.

Concurrently, there is a separate push in the Senate for a more narrowly focused bill to regulate stablecoins, which has reportedly seen bipartisan progress. Pro-cryptocurrency senators are also expected to introduce their own broader market structure legislation this month, which is anticipated to be similar to the House bill. The Senate Banking Committee's crypto subcommittee is expected to hold a hearing on market structure later in June. The House Financial Services Committee had also previously announced a markup for the CLARITY Act on June 10, 2025. Eight crypto groups have been lobbying to integrate the Blockchain Regulatory Certainty Act into the CLARITY Act to provide protections for DeFi developers who do not hold customer funds.

Paul, your task is to write a concise article focusing on the key developments in cryptocurrency regulation as per the June 9, 2025 report. Highlight that the House Financial Services Committee is set to vote on the Digital Asset Market Clarity Act, which includes protections for non-custodial crypto platforms and developers. Explain the bill's goals, such as establishing regulatory frameworks between the SEC and the CFTC, mandating customer disclosures, and fund segregation. Also, touch on the challenges in obtaining support from certain Democrats due to concerns about Donald Trump's crypto industry ties. Briefly mention the parallel Senate efforts on stablecoin regulation and broader market structure legislation, with a Senate Banking Committee hearing on the topic scheduled for later this month. Avoid unnecessary details and focus on the clear explanation of these key events.

House to Vote on Updated Crypto Market Clarity Act

• The House Financial Services Committee will vote on the updated Digital Asset Market Clarity Act on June 10, 2025.
• The bill includes protections for non-custodial crypto platforms and developers.

On June 10, 2025, the House Financial Services Committee will vote on amendments to the Digital Asset Market Clarity Act, The Block reported. The primary focus of these amendments is to exclude non-custodial blockchain developers from being classified as money transmitters.

On June 9, 2025, The Block reported that the updated bill aims to establish a clear regulatory framework for digital assets. This framework will delineate oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Additionally, the bill mandates that digital asset firms provide customer disclosures and implement customer fund segregation.

This amendment comes after significant advocacy from cryptocurrency groups who argued for legal protections for developers of non-custodial platforms. However, the bill is facing challenges in securing sufficient support from some Democratic lawmakers. There are concerns regarding former President Donald Trump's involvement in the crypto industry, which has added an element of controversy and opposition.

In parallel efforts within the Senate, a separate bill focused on stablecoin regulation has seen notable bipartisan progress. Pro-cryptocurrency senators are also planning to propose broader market structure legislation similar to the House bill later this month. The Senate Banking Committee's subcommittee on cryptocurrency will hold a hearing on broader market structure legislation in late June.

Eight cryptocurrency advocacy groups have been lobbying to incorporate the Blockchain Regulatory Certainty Act into the Digital Asset Market Clarity Act. This integration aims to enhance protections for decentralized finance (DeFi) developers who do not manage customer funds.

As of June 9, 2025, 12:00 UTC, Ethereum (ETH) is trading at $2,450, with a 1.8% increase in 24-hour volume, according to CoinMarketCap.