cointelegraph.com
The long-awaited Digital Asset Market Clarity Act, or CLARITY Act, is moving closer to passage, with a Senate markup expected in January, says White House artificial intelligence and crypto czar David Sacks.
Sacks posted to X on Thursday that Senate Banking Committee Chair Tim Scott and Agriculture Committee Chair John Boozman had confirmed that the bipartisan crypto bill will reach the Senate next month.
”We are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for. We look forward to finishing the job in January!”
The CLARITY Act would define crypto securities and commodities and clarify the roles of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and other financial regulators.
Backers of the bill say it will reduce regulatory uncertainty for crypto firms by establishing clearer compliance pathways and encourage innovation while strengthening investor protections.
US regulators continued to work on the CLARITY Act during the record 43-day government shutdown across October and November, meeting with executives from the likes of Coinbase, Ripple, Kraken, Circle, and tech-focused venture capital firms a16z and Paradigm.