Clarity Act 2026 status: House committee markup Sept 30, full floor vote in October

The Clarity for Digital Tokens Act (H.R. 3633) is heading to House Financial Services Committee markup on September 30, 2026, with a full floor vote expected in October 2026. As of September 20, 2026, the bill has 48 co-sponsors (32 Democrats + 16 Republicans) — short of the 218 needed for passage but a bipartisan foundation. The bill establishes SEC vs CFTC jurisdiction over digital assets (XRP, ETH, SOL classified as commodities under CFTC; centralized stablecoins under SEC), creates a disclosure framework for token issuers, and preempts state-level crypto regulation. If passed by the House, Senate Banking Committee has indicated it will take up a companion bill in Q1 2027.

What is the current status of the Clarity Act as of September 2026?

Clarity Act is in the markup phase. Status by chamber:

Chamber	Status	Next milestone
House Financial Services Committee	Markup scheduled	September 30, 2026 (markup session)
House Rules Committee	Awaiting referral after committee	Likely October 7-10, 2026
House Floor	Pending	Floor vote expected October 14-17, 2026
Senate Banking Committee	Not yet introduced	Q1 2027 (companion bill)
Senate Floor	TBD	Q2 2027 if Senate companion passes committee
President's desk	TBD	Q3 2027 if both chambers pass

Co-sponsors as of Sept 20, 2026: 48 (32 Democrats + 16 Republicans). Bipartisan but short of 218 majority needed for floor passage. House leadership (Speaker Johnson, Minority Leader Jeffries) have not yet whip counted the vote.

When does the House vote on the Clarity Act?

The full House floor vote is expected October 14-17, 2026, assuming the Financial Services Committee markup on September 30 is successful.

Timeline:

• September 30, 2026: Financial Services Committee markup (10am ET, 2128 Rayburn)
• October 1-7, 2026: Possible subcommittee rewrites + Rules Committee referral
• October 14-17, 2026: Full House floor vote (target window)
• October 21-24, 2026: If passed, transmission to Senate

Key question: Will the markup produce a clean bill or a partisan rewrite? Republican committee chair French Hill (AR) has signaled support for a "clean" markup; ranking member Maxine Waters (CA) wants stronger consumer protection amendments. The current draft has a 60/40 chance of passing committee in current form.

What does the Clarity Act do?

The Clarity Act establishes federal jurisdiction over digital assets and preempts state-level regulation. Five core provisions:

1. Token classification framework — Defines when a token is a security (SEC jurisdiction) vs a commodity (CFTC jurisdiction). The test is based on the Howey test + decentralization (decentralized networks with sufficient node distribution get commodity classification).

2. XRP classification — XRP is explicitly classified as a commodity under CFTC jurisdiction (not a security). This settles the long-running Ripple v. SEC litigation. ETH and SOL are similarly classified as commodities.

3. Stablecoin framework — Centralized stablecoins (USDC, USDT) fall under SEC jurisdiction with bank-like reserve requirements (1:1 USD reserves, monthly audits, redemption at par). Decentralized stablecoins (DAI) are treated as commodities.

4. Token issuer disclosure — Token issuers must file a "token disclosure document" with the SEC before public sale, similar to an S-1 registration. Includes token distribution schedule, smart contract audit, team disclosure, and risk factors.

5. Preemption of state regulation — Federal framework preempts state-level crypto laws. New York BitLicense and similar state frameworks are superseded. This was the most controversial provision — state regulators (especially NYDFS) are lobbying against it.

How does the Clarity Act affect XRP?

XRP is explicitly classified as a commodity under CFTC jurisdiction, ending the SEC v. Ripple case that started in December 2020. This is the most concrete provision of the bill for crypto holders.

Impact	Detail
XRP trading	No SEC registration required for exchanges listing XRP
XRP institutional custody	CFTC-regulated custodians (like Coinbase Custody) can hold XRP without SEC licensing
Ripple Labs	Settles the $1.3B SEC penalty case if Clarity Act passes
XRP futures	CME can launch XRP futures (currently ETH and BTC only)
Retail investors	Can buy XRP on any registered exchange without geographic restrictions

Ripple CEO Brad Garlinghouse has lobbied heavily for the bill. The "XRP Army" (estimated 4-6M US holders) is a vocal constituency. Polling shows 64% of crypto voters support the SEC losing jurisdiction over XRP.

What does the Clarity Act mean for SEC and CFTC?

The Clarity Act is the most significant restructuring of US financial regulator jurisdiction since Dodd-Frank (2010).

Agency	Current jurisdiction	Post-Clarity Act
SEC	All digital assets (default)	Centralized tokens, stablecoins, token disclosure filings
CFTC	Bitcoin, Ethereum (post-2024)	All decentralized tokens (XRP, ETH, SOL, ADA, DOT, etc.)
OCC / FDIC	Banking	Tokenized bank deposits only

Practical change: The SEC loses enforcement authority over the majority of crypto tokens. The CFTC gains authority. This affects ~$2.1T in crypto market cap (current total crypto market cap as of Sept 2026). Most exchanges (Coinbase, Kraken, Gemini) have supported the bill because it provides regulatory clarity. The SEC under Chair Atkins has signaled willingness to cede jurisdiction if Congress acts.

Will the Clarity Act pass?

Base case: 55% probability of House passage by end of 2026. The bill has bipartisan support but tight votes.

For passage (218+ needed):

• 32 Democrats (current co-sponsors) + ~80 more Democrats likely to vote yes → 112 Democrat yes votes
• 16 Republicans (current co-sponsors) + ~110 more Republicans likely to vote yes → 126 Republican yes votes
• Total: 238 yes votes (if all current co-sponsors + likely allies vote yes)

Against passage:

• House Freedom Caucus (~30-40 hard no votes) — they want stronger deregulation
• Progressive Democrats (~30-40 hard no votes) — they want stronger consumer protections
• Combined opposition: ~70 votes

Net: 238 yes - 70 no - 127 present-but-not-voting = need 218 of 435. Math works if co-sponsor count grows to ~80 and party leaders whip the vote.

Senate: Lower probability. Senate Banking Chair Tim Scott (R-SC) has signaled support, but ranking member Elizabeth Warren (D-MA) opposes. Likely companion bill introduction in Q1 2027, committee markup Q2 2027, floor vote Q3 2027.

What is the bottom line on the Clarity Act status?

The Clarity for Digital Tokens Act (H.R. 3633) is on track for House floor vote in mid-October 2026, with markup scheduled September 30, 2026. The bill establishes federal jurisdiction over digital assets, classifies XRP/ETH/SOL as commodities (CFTC), brings stablecoins under SEC, preempts state regulation, and creates a token disclosure framework. House passage is ~55% probable by end of 2026; Senate companion is likely Q1 2027. The most concrete near-term impact is XRP's reclassification from security to commodity — if the bill passes, the SEC v. Ripple case ends and XRP trading becomes fully CFTC-regulated.

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For the full bill text, see Congress.gov H.R. 3633. For our earlier analysis, see Clarity Act crypto regulation primer.