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The Digital Asset Market Clarity Act (CLARITY Act), establishing a permanent statutory boundary between federal agencies in regulating digital assets, was formally placed on the U.S. Senate Legislative Calendar. However, its immediate passage faces strong resistance as the bill recently stumbled over crucial hurdles regarding ethics disputes and law enforcement concerns. Prediction market odds on Polymarket for the bill passing have plummeted to 47-48% (down from over 74%), with a few session days left before the August recess to debate the bill alongside competing national security priorities.
Summary
- The SEC and CFTC’s joint token taxonomy classified digital collectibles as non securities, offering regulatory clarity for NFTs as the market shifts toward curated digital art collections.
- Museums across the U.S. are expanding efforts to preserve digital art, with the Museum of Art + Light unveiling a permanent collection that includes blockchain native and AI assisted works.
- The National Lighthouse Museum’s Statue of Liberty Art Show opened on Flag Day as part of America’s 250th anniversary celebrations, featuring works by Hunt Slonem and Selva Ozelli alongside historical imagery of Lady Liberty.
Nevertheless, the Memorandum of Understanding (MOU) issued by the SEC and CFTC and the subsequent joint interpretive release established the first formal five-part token taxonomy, explicitly classifying digital collectibles as non-securities. This provided significant regulatory clarity by confirming that NFTs are not a security. The NFT art market has transitioned away from the speculative frenzy of 2021 into a more consolidated ecosystem with curated, high-end digital art featuring themes of the 250th anniversary of our nation. On Flag Day, celebrated on June 14th, which marks our nation’s first crypto President’s 80th Birthday, many museums are showing their commitment to preserving Digital Art for Future Generations and holding USA 250 themed exhibitions.
The Museum of Art + Light (MoA+L) unveiled its permanent digital art collection, featuring more than 40 works by 15 internationally recognized digital artists. Developed in partnership with Iconic, the collection represents a significant commitment to collecting, preserving, and exhibiting digital art that reflects the breadth, innovation, and cultural significance of digital artistic practice in the 21st century by a contemporary art museum in the US.
“From the beginning, our partnership with the Museum of Art + Light has centered on the belief that digital art deserves the same level of institutional support, preservation, and public engagement as any other artistic medium,” said Chris Cummings, Founder and CEO of Iconic. “We are honored to have collaborated in helping establish a collection that not only celebrates today’s leading digital artists but also creates an important cultural resource for the future.”
Conceived as the first contemporary art museum in the world to showcase immersive, digital, and permanent collections from its inception, the MoA+L has intentionally built a collection that spans generative art, AI-assisted works, digital poetry, blockchain-native artworks, and hybrid physical-to-digital pieces to assemble a collection that captures key voices shaping contemporary digital culture.
“Building a permanent collection dedicated to digital art was never an afterthought for the Museum of Art + Light, it was foundational to our vision,” said Erin Dragotto, Executive Director of the Museum of Art + Light.
“As museums around the world continue to explore how digital art fits within their collections, we have had the unique opportunity to build a collection intentionally from the ground up. These acquisitions ensure that some of the most influential artists working with technology today will be preserved, studied, and shared with audiences for generations to come.”
The National Lighthouse Museum (NLM) on June 14th, Flag Day, the NLM is launching the Statue of Liberty Art Show, which runs until January 2nd, 2027. Curated by Stevie Peters, the art show showcases a historical photo of Lady Liberty when she first arrived at NY Harbor — that is on loan from Victoria Westhead — and oil paintings by award-winning artists Hunt Slonem and Selva Ozelli.
Hunt Slonem joins the Statue of Liberty Art show with his signature “Bunny, Bird and Butterfly” series, which includes a US flag representing abundance, hope, and fertility; his Abraham Lincoln series depicting the timeless icon of American history as a “great soul,” a symbol of law and personal liberty; and his Chandelier series, which reflects his fascination with light and historic grandeur.
“On Marilyn [Monroe]’s desk, she had a picture of her mother and a picture of Lincoln. And she said, ‘I really didn’t know who my father was, so it might as well be Abraham Lincoln.’ I work with diviners and mystics, and one of them started channeling Lincoln in my house, [Lincoln] guided me to paint certain things, like my doves: he wanted me to paint them as a symbol of freedom.”
Selva Ozelli, joins the Statue of Liberty Art Show with her Ocean Lovers-Angel Fish Flag CCL a 20 ft by 13 ft US Flag from her Flag CCL series that represents the seven rays on the Statue of Liberty’s crown, depicting our world’s seven continents, seven seas, and its angel fish inhabitants, which are often regarded as a symbol of hope, peace, and spiritual guidance.
“I am honored to join the Statue of Liberty Art Show along with a historical photo of Lady Liberty and my favorite artist Hunt Slonem with my Ocean Lovers – Angel Fish Flag CCL painting.
For one hundred and forty years, The Statue of Liberty in New York Harbor and hundreds of replicas and models of “Lady Liberty” located around the world ranging from small, historical models in Paris to full-sized or scaled-down copies in cities like Tokyo, Rio de Janeiro, and Las Vegas have become a very important symbol of the global spread of liberty, freedom, democracy, law, hope and inspiration to serve every creature of our world.”
“Whether people have seen Lady Liberty in real life in different cities or only in photographs, whether the people are American or from other nationalities or cultures, the Statue of Liberty, which first served as a lighthouse standing tall in NY Harbor across from our museum has come to symbolize something important for people in their own lives at a very personal level – she represents a certain level of security, constancy, freedom, democracy, the rule of law, hope, and the abolition of slavery serving as a universal beacon of light, liberty and inspiration. We invite everyone who wants to see the Statue of Liberty Art Show or Lady Liberty herself and the largest waterfront spectacle, SAIL 4th 250…Where Light Meets Liberty! that will take place from July 3-8, 2026, in the Port of New York and New Jersey, with the main spectacle, the International Parade of Tall Ships, scheduled for July 4, 2026.
These events are part of America’s Semiquincentennial (250th) anniversary celebration and is expected to be the largest international maritime gathering in U.S. history, with over 30 tall ships from around the world, sailing up the Hudson River. Our museum, which is hosting a July 4 Watch Party Breakfast, will serve as a key viewing spot. For further details or to be an event sponsor, contact www.lighthousemuseum.org,” explained Linda Dianto, Executive Director of NLM.
About the Author:
Selva Ozelli Esq, CPA, is an international digital asset legal expert and author of Sustainably Investing in Digital Assets Globally. Her writings are translated into 45 languages and republished in over 200 global publications. She is recognized as an expert media/TV commentator on global digital asset regulation, tax, and technology matters.
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