The US Senate Banking Committee has published a 309-page draft of the CLARITY Act, giving members until tomorrow to file amendments before Thursday's scheduled markup session. The release marks a significant procedural step toward formal legislative action on one of the most comprehensive crypto regulatory frameworks to reach the Senate floor.
The CLARITY Act has been closely watched by the digital assets industry as a potential blueprint for how the US will divide oversight authority between the SEC and CFTC, clarify the legal status of digital commodities, and set rules for banking institutions engaging with crypto. Thursday's markup will be the first real test of where committee members stand on the draft's core provisions.
Frequently asked questions
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What are the key provisions of the CLARITY Act draft?
The CLARITY Act draft aims to clarify the legal status of digital commodities, divide oversight between the SEC and CFTC, and establish rules for banking institutions involved with crypto.
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What happens after the markup session on the CLARITY Act?
Following the markup session, the committee will determine the next steps for the CLARITY Act, which could include further amendments or a vote to advance the legislation to the full Senate.
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