Here’s what happened in crypto today

Today in crypto, the US Congress has introduced a comprehensive bipartisan bill aimed at regulating digital assets. Meanwhile, Bybit has secured regulatory approval under the EU’s Markets in Crypto-Assets (MiCA) framework, and former CFTC Chair Rostin Behnam has called for expanded authority for the agency to oversee crypto. US lawmakers introduce bipartisan regulatory framework for digital assetsUS Representative French Hill has announced the introduction of the much-awaited market structure bill for digital assets. The “Digital Asset Market Clarity Act of 2025” or “CLARITY Act of 2025” comes with support from lawmakers across both sides of the aisle, including three Democratic co-sponsors.The bill covers the roles of both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on digital assets oversight, seeking to resolve longstanding questions about which agency oversees which types of digital assets.“I am proud to introduce the bipartisan CLARITY Act with my colleagues,” Hill said in a May 29 statement. “Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation, and builds off our work in the 118th Congress.”Under the CLARITY Act, developers would be required to provide accurate and relevant disclosures detailing a project’s operation, ownership, and structure.The bill also introduces new compliance requirements for customer-facing firms such as brokers and dealers, including clear disclosures to customers, segregation of customer assets from company funds, and mitigation of conflicts of interest through strict registration, transparency, and operational standards.Bybit secures MiCA license in Austria, opens EU base in ViennaBybit has obtained a MiCA license from Austria’s Financial Market Authority (FMA), allowing the exchange to expand into the European market.The approval allows Bybit EU, registered under commercial number 636180i, to operate as a regulated crypto asset service provider (CASP) and extend its services across all 29 European Economic Area member states.As part of its expansion, Bybit has officially established its European headquarters in Vienna, Austria, according to a May 29 news release shared with Cointelegraph.The move enables the platform to serve nearly 500 million Europeans under MiCA’s harmonized framework, which is designed to promote regulatory consistency, prevent illicit activity and protect consumers.“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” said Ben Zhou, co-founder and CEO of Bybit. “We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance.”Crypto vulnerable if CFTC not given authority: Ex-chair BehnamFormer Commodity Futures Trading Commission Chair Rostin Behnam said on May 28 that the crypto market will remain unregulated unless the agency he led is given greater authority.Behnam argued in a Bloomberg TV interview that “the few largest tokens are commodities” and the Securities and Exchange Commission cannot properly regulate crypto because it can’t regulate commodities and the CFTC can’t regulate crypto because it is a derivatives regulator.He said that without new authority for the CFTC to regulate “cash markets in digital assets, non-securities,” then crypto will remain an unregulated space.“Ultimately, until we do something, the [crypto] market will remain unregulated,” Behnam said. “Customers, investors, retail and institutional, will be more vulnerable to harm, fraud, manipulation and conflicts of interest, until the market is regulated.”