Just before the U.S. House committees are set to discuss the updated ‘CLARITY Act’, a bill meant to bring clear rules to crypto, concerns are popping up from people in the crypto industry.
Today, on June 10, 2025, the U.S. House Financial Services Committee will hold a major hearing to discuss the CLARITY Act. The session starts at 10:00 a.m. EST at the Rayburn House Office Building, where lawmakers will review, debate, and vote on several financial bills.
A controversial new section added to the bill has some calling it a “Gensler-era provision,” referring to SEC Chair Gary Gensler’s stricter approach to crypto regulation. This amendment would remove the exemptions for older or already-issued tokens, which many thought were safe from further SEC scrutiny. Instead, the SEC would now have full authority to judge every token, one-by-one, to decide if it’s a security or not.
This move has alarmed the crypto community. Critics argue it undermines the core goal of the CLARITY Act, which is to remove regulatory uncertainty. Instead of moving forward, they say this change brings back the confusion and risks that have held the industry back for years.
Many feel it marks a return to the overregulation and enforcement-first approach that defined the Gensler era. Crypto advocates say it’s time for Congress to set bright-line, objective rules, such as classifying tokens based on technical features or network maturity. Without that, they warn, regulators could continue to arbitrarily crack down on innovation, leaving the U.S. at a competitive disadvantage.
Also Read: U.S. House Set to Review Crypto Bill ‘CLARITY Act’ on June 10
