Securities Clarity Act

The Securities Clarity Act (HR 3572) clarifies that digital assets sold through certain fundraising arrangements - like initial coin offerings (ICOs) - do not automatically become securities under federal law, if they aren’t securities by their own nature. It directly affects digital asset projects and investors participating in these arrangements by preventing the assets themselves from being classified as securities solely because they were sold via an investment contract. The bill amends key securities laws (including the Securities Act of 1933 and the Investment Company Act of 1940) to explicitly exclude "investment contract assets" from the definition of "security." This aims to reduce regulatory uncertainty in the digital asset sector, aligning U.S. policy more closely with international approaches.