Following the Senate Banking Committee's December postponement of the crypto market structure bill markup to early 2026, senators are now set to review the CLARITY Act on January 15. The session addresses lingering issues like DeFi classification, SEC-CFTC jurisdictional lines, and stablecoin incentives, potentially paving the way for a federal digital asset framework.
The January 15 markup in the Senate Banking Committee marks the first public advancement of the CLARITY Act since the panel's December 15 announcement delaying action amid holidays and negotiations. After months of closed-door bipartisan talks, including compromise language developed post-recess, Chair Tim Scott noted 'strong progress' with Democrats.
Key debates will revisit 2025 sticking points: regulatory treatment of DeFi protocols, clearer SEC vs. CFTC boundaries for digital assets, and rules for stablecoin issuers offering yields. New amendments could still arise, per staff.
Politically, Republican votes may advance it from committee, but floor passage requires coordination with the Senate Agriculture Committee and 60 votes for cloture, demanding bipartisanship. Government funding deadlines in late January add pressure.
If enacted, the CLARITY Act would classify tokens as securities or commodities, require registrations for exchanges and brokers, empower regulators over spot markets, reduce enforcement uncertainties, protect consumers, and boost U.S. competitiveness in crypto.
