House Democrats are reportedly weighing a wider crypto framework that would build on a 2025 CLARITY Act amendment led by Rep. Maxine Waters. Journalist Eleanor Terrett says the plan would merge her unadopted provisions with Democratic ideas Republicans had accepted before a failed September vote. Under it, the SEC would gain oversight while the CFTC's role shrinks. Consumer protections would return, including stricter custody rules, monthly proof-of-reserve checks, SIPC-style asset coverage, and limits on firms trading against clients. Ethics limits on crypto dealings by President Donald Trump and other officials might also be added. Strategist Tonya M. Evans expects DeFi to be the toughest fight, and notes such bills often become the starting draft of later law.
Why it matters: Shifting oversight toward the SEC and tightening exchange and customer rules would change how federal lawmakers govern the industry.
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