U.S. Crypto Market Faces CLARITY Act Hearing and Bitcoin Slide Below $63,000

The U.S. House Financial Services Committee’s Subcommittee on Digital Assets has scheduled a hearing for July 17 in New York City to examine the Digital Asset Market Clarity Act (H.R. 3633). The bill, passed by the full House with a 294‑134 bipartisan vote, would divide oversight of digital tokens between the SEC and the CFTC and introduce a “mature blockchain test” to determine when a token can be re‑classified from a security to a commodity. Proponents argue the legislation would provide regulatory certainty for crypto projects and institutional investors.

At the same time, Bitcoin’s price fell below $63,000 as broader macro‑economic pressures returned to the crypto market. The decline reflects heightened risk aversion in technology stocks and a shift toward defensive positioning among traders, prompting investors to watch whether the asset can hold near the $60,000‑$61,500 support zone.