H.R.3633 - Digital Asset Market Clarity Act of 2025 119th Congress (2025-2026) Section Summary:

SEC. 312.Digital commodity activities that are financial in nature. (a) Digital commodity activities that are financial in nature.—Section 4(k)(4) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(4)) is amended— (1) in subparagraph (A), by striking “or securities” and inserting “, securities, or digital commodities”; and (2) in subparagraph (E), by inserting “or digital commodities” before the period at the end. (b) National bank activity.— (1) IN GENERAL.—A national bank may use a digital asset or blockchain system to perform, provide, or deliver any activity, function, product, or service that the national bank is otherwise authorized by law to perform, provide, or deliver. (2) RULE OF CONSTRUCTION.—Nothing in this subsection may be construed to exempt a national bank’s performance, provision, or delivery of an activity, function, product, or service from a requirement that would apply if the activity were not performed, provided, or delivered using a digital asset or blockchain system. (c) Insured State banks and subsidiaries of insured State banks.—For purposes of sections 24(a) and 24(d) of the Federal Deposit Insurance Act (12 U.S.C. 1831a(a) and (d)), all of the activities authorized for a national bank under subsection (b) that are principal activities shall be permissible for an insured State bank and subsidiary of an insured State bank. SEC. 313.Effective date; administration. Except as otherwise provided under this title, this title and the amendments made by this title shall take effect 360 days after the date of enactment of this Act, except that, to the extent a provision of this title requires a rulemaking, the provision shall take effect on the later of— (1) 360 days after the date of enactment of this Act; or (2) 60 days after the publication in the Federal Register of the final rule implementing the provision.