The crypto industry might finally get some long-overdue rules, but there’s one problem. House Democrats say the SEC is ghosting them on the details. And it’s not just frustrating, it could slow down one of the biggest crypto bills in years.
What Is This Crypto Bill All About?
It’s called the Digital Asset Market Structure Bill, better known as the CLARITY Act. The goal? To figure out who regulates what. Right now, the crypto space is a mess. One agency says a token is a security, another says it’s a commodity, and investors are left playing a guessing game. The bill aims to divide the job between the SEC and the Commodity Futures Trading Commission (CFTC).
U.S. Democrats claim SEC shared crypto bill analysis with Republicans but not with them
Democratic staff in the U.S. House claim the Securities and Exchange Commission (SEC) provided Republicans—but not Democrats—with a standard technical analysis of the newly introduced crypto…
— CoinNess Global (@CoinnessGL) June 4, 2025
Under the proposal, the SEC would handle centralized crypto assets, while the CFTC would oversee decentralized ones, such as Bitcoin and Ethereum. It’s basically an attempt to bring some structure to the chaos.
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Why Are Democrats Upset?
Because they’re not getting the info they need, democratic staffers from the House Financial Services Committee say the SEC gave Republicans a detailed breakdown of how the bill would affect the market. But when Democrats asked for the same thing, they got nothing.
According to committee insiders, the SEC had prepared a full technical analysis but chose not to share it with Democrats. That means lawmakers on one side of the aisle are flying blind while the other side might have a clearer view of how this bill plays out in the real world.
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SEC Says Everyone’s Welcome to Ask
The SEC’s response? They say anyone can ask for help. A spokesperson told the press that they’re always open to providing technical support to lawmakers. But they didn’t say whether they’d give Democrats the same report Republicans received. That’s the part that’s rubbing people the wrong way.
Representative Maxine Waters, the top Democrat on the committee, wants answers. She’s sent a letter to SEC Chair Gary Gensler asking for a full report on what the bill means for markets, for investors, and the SEC’s authority. So far, there’s been no public response.
What Happens Next?
The bill is heading for a markup session on June 12, which means lawmakers will start debating the fine print. It has strong support from Republicans and a few crypto-friendly Democrats, but this rift over missing information could complicate things.
Some Democrats are worried that without the full picture, they could accidentally pass something that weakens existing securities laws or gives big finance firms an easy way to dodge oversight by calling themselves “blockchain-based.”
Bottom Line
This isn’t just about politics. It’s about making sure the people writing the rules actually know what those rules will do. If one side of Congress gets the data and the other side doesn’t, that’s not a level playing field. For a bill that could reshape how crypto is regulated in the U.S., that’s a pretty big deal.
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Key Takeaways
- The CLARITY Act is a major crypto bill aiming to split oversight between the SEC and CFTC.
- House Democrats accuse the SEC of withholding a detailed analysis they shared with Republicans.
- The SEC claims any lawmaker can request support, but hasn’t confirmed equal access to the report.
- Maxine Waters has demanded transparency from the SEC ahead of the bill’s June 12 markup session.
- This internal split could delay or reshape how crypto regulation unfolds across centralized and decentralized assets.
The post House Democrats Say SEC Is Holding Back Crypto Bill Details appeared first on 99Bitcoins.
