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Digital Asset Clarity: Excluding Investment Contract Assets from Securities Definition

This act aims to clarify that digital assets, such as those used in blockchain protocols, do not automatically become securities just because they are sold under an investment contract. This is intended to foster innovation in the digital sector in the U.S. by providing greater legal certainty for businesses and investors.
Key points
Digital assets that are not inherently securities will not be treated as such, even if they are part of an investment contract.
The change seeks to remove legal ambiguities that have hindered the development of the digital industry in the United States.
The act potentially makes it easier for companies to raise capital and develop new digital technologies, which could impact the availability and diversity of digital services for citizens.
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Status:
Expired
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Additional Information
Print number: 118_HR_3572
Sponsor: Rep. Emmer, Tom [R-MN-6]
Process start date: 2023-05-22
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Securities Clarity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3572.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-22.

What are the main provisions?

Key points include:

  • Digital assets that are not inherently securities will not be treated as such, even if they are part of an investment contract.
  • The change seeks to remove legal ambiguities that have hindered the development of the digital industry in the United States.
  • The act potentially makes it easier for companies to raise capital and develop new digital technologies, which could impact the availability and diversity of digital services for citizens.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Emmer, Tom [R-MN-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law