Robinhood CEO and co-founder Vlad Tenev said the United States is “very close” to passing the Crypto Clarity Act, a bill that would, for the first time, set a formal legal line between digital assets treated as securities and those handled as commodities under U.S. law.
A bill focused on the securities-versus-commodities divide
The legislation has been one of the most heavily lobbied crypto bills in the industry’s history. For years, digital asset companies have operated inside a regulatory gray zone, with the Securities and Exchange Commission and the Commodity Futures Trading Commission repeatedly clashing over who has authority over what.
That uncertainty has had direct consequences. Firms have faced enforcement actions while working with limited legislative guidance, and the central question has remained the same: which tokens fall under securities law, and which belong in the commodities bucket. The Crypto Clarity Act is designed to answer that question in statutory form.
Senator says the “yield issue” has been resolved
Tenev’s comments came alongside a separate update from U.S. Senator Angela Alsobrooks, who said a major sticking point in bitcoin market structure legislation, described as the “yield issue,” has now been resolved. “I think it can pass, I really do,” she said.
The issue refers to long-running disagreement in Congress over how staking rewards, yield-bearing crypto accounts, and other return-generating digital asset products should be classified and regulated at the federal level. With that dispute now addressed, a major obstacle has been removed from the broader legislative package.
Why the bill matters to Robinhood and other crypto firms
For Robinhood, clearer rules are tied directly to business operations. The company has expanded aggressively into digital assets over the past two years, offering trading in dozens of cryptocurrencies and adding crypto wallet features for a growing base of retail users.
The push extends well beyond one platform. Major exchanges, asset managers, and stablecoin issuers have all argued that the SEC’s enforcement-first approach, including headline cases involving firms such as Coinbase, has pushed crypto innovation outside the United States and left domestic companies at a disadvantage against international rivals.
The political setting has also turned more favorable for the bill. According to the report, President Trump’s administration has signaled support for pro-crypto legislation, and several bipartisan digital asset bills have moved ahead in Congress in recent months. The next step now rests with lawmakers.