Sacks Says CLARITY Act Will Reach Senate Next Month
Summary
The Digital Asset Market Clarity Act (CLARITY Act) is nearing Senate consideration, with a markup expected in January. Senate Banking and Agriculture Committee chairs have confirmed the bipartisan crypto bill will advance soon. The CLARITY Act aims to define crypto securities and commodities, clarifying the jurisdiction of agencies like the SEC and CFTC. The bill seeks to reduce regulatory uncertainty for cryptocurrency firms by establishing clear compliance guidelines, encourage innovation, and enhance investor protections. Work on the legislation has continued despite a prolonged government shutdown, with input from major crypto companies and venture capital firms.
