Does Emanuel Cleaver II Support Crypto?

Bill

CLARITY Act

Details

The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.

Vote

Final Passage Out Of House

Bill

GENIUS Act

Details

The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.

Vote

Final Passage Out Of House

Quoted from cointelegraph.com · 2025-06-11

“The US House Committee on Financial Services has advanced a crypto market structure bill called the Digital Asset Market Clarity (CLARITY) Act, which will soon head to the full House floor for a vote.

House Financial Services lawmakers voted 32 to 19 on Tuesday to put the CLARITY Act to a full floor vote…”

Emanuel Cleaver was one of the representatives who voted against advancing this pro-crypto legislation.

Bill

H.J. Res 25

Details

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".

Vote

Final Passage Out Of House

Bill

FIT21

Details

This bill establishes a comprehensive regulatory framework for digital assets, assigning primary jurisdiction over "digital commodities" to the CFTC and "restricted digital assets" to the SEC. It defines key terms like "digital asset," "digital commodity," and "permitted payment stablecoin," and creates a mechanism for digital assets to transition from securities to commodities upon achieving sufficient decentralization. The legislation also outlines registration requirements for various digital asset intermediaries and mandates studies on decentralized finance and non-fungible digital assets.

Vote

Final Passage Out Of House

Bill

Blockchain Integrity Act

Details

This bill proposes a 2-year moratorium on financial institutions handling, using, or transacting with funds routed through digital asset mixers. It also mandates the Secretary of the Treasury to conduct a comprehensive study on digital asset mixers, privacy coins, and other anonymity-enhancing technologies. The study's report to Congress must analyze both illicit and legitimate uses, law enforcement capabilities, and recommend future legislation or regulation.

Quoted from youtube.com · 2022-12-13

Rep. Emanuel Cleaver asked during a congressional hearing if Congress should change the term “cryptocurrency” to “creepy dough currency.”