Bill backed by SD congressman to regulate digital assets makes it out of U.S. House committee
Indiana Rep. Erin Houchin, left, and South Dakota Rep. Dusty Johnson, both Republicans, speak with reporters inside the U.S. Capitol on May 21, 2025. (Jennifer Shutt/States Newsroom)
A bipartisan bill cosponsored by U.S. Rep. Dusty Johnson, R-South Dakota, to establish clearer regulations for digital assets passed out of a House committee Monday.
The legislation, known as the Digital Asset Market Clarity Act, aims to create a framework for the regulation of digital assets, such as cryptocurrencies, and the firms that deal in them.
The bill was introduced to address what Johnson calls uncertainty in the oversight of blockchain-based technologies. A blockchain is a distributed digital ledger of cryptocurrency transactions that is maintained across a worldwide network.
'Over the next few years, blockchain technology will transform most every industry,' Johnson said in a news release. 'Unfortunately, regulatory uncertainty has pushed innovation and investment overseas. Our bill creates clear rules of the road, ensuring America will power the future of blockchain and digital assets.'
The bill lays out new disclosure, registration and operational requirements for companies dealing in digital assets. It also seeks to delineate regulatory responsibilities among agencies, providing a clearer legal environment for innovation and enforcement.
The legislation now moves to the full House for consideration.
The bill is sponsored by Rep. French Hill, R-Arkansas. Johnson is one of eight original co-sponsors, including three Democrats.
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