CLARITY Act is the successor to the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House but stalled in the Senate during the previous session

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The successor to the previous session's Financial Innovation and Technology for the 21st Century Act (FIT21), the new bill called the Digital Asset Market Clarity Act is being pushed by top Republicans in the House Financial Services and the House Agriculture committees.

The bill emerged from the House Committee on Financial Services. The committee had previously worked on the FIT21 Act, which passed out of the House of Representatives but stalled in the Senate.