Senators Set January Markup for Crypto Market Structure Bill
The Senate’s crypto market structure bill, the Digital Asset Market Clarity Act of 2025 (CLARITY Act), will receive a committee markup in January, moving it closer to a floor vote. The bill establishes the first comprehensive federal framework for digital assets by defining regulatory responsibilities between the SEC and CFTC. It previously passed the House with bipartisan support alongside the separately-approved stablecoin law. Senate Banking and Agriculture Committee chairs Tim Scott and John Boozman will oversee the markup. President Trump has indicated willingness to nominate Democratic commissioners to financial agencies, addressing a Democratic demand, though skepticism remains given potential Supreme Court changes that could let presidents dismiss commissioners at will. Critics, including Komodo’s Kadan Stadelmann, argue the bill favors large firms and could undermine financial privacy by imposing data collection and reporting requirements, risking greater centralization and disadvantaging startups.
