The CLARITY Act seeks to reform U.S. digital asset regulation by granting the Commodity Futures Trading Commission (CFTC) exclusive authority over digital commodities. The proposed legislation introduces a 12-month safe harbor period for token fundraising and establishes criteria for evaluating blockchain decentralization. It aims to facilitate cooperation between the Securities and Exchange Commission (SEC) and the CFTC, allowing traditional financial institutions to engage in digital commodity trading post-registration. Despite its alignment with projects like Internet Computer Protocol (ICP) and Solana, the act faces political challenges from competing regulatory frameworks. Additionally, it includes measures to counter the financing of terrorism.