New US Crypto Bill Sets Strict Rules for Exchanges and Developers

The “CLARITY Act of 2025,” introduced by Representative French Hill with bipartisan support, outlines a comprehensive regulatory framework for digital assets, with significant implications for crypto businesses.

The bill clarifies the SEC’s and CFTC’s jurisdictions while imposing rigorous new requirements on developers and customer-facing firms.

Key provisions include mandatory operational disclosures for projects, strict broker-dealer registration standards, and rules to separate customer assets from company funds. Hill framed the legislation as a way to “protect consumers without stifling innovation,” but compliance costs may pose challenges for smaller operators.

The proposal reflects growing momentum for federal crypto regulation, potentially reshaping how the industry operates in the US.