Senators Set January Markup for Crypto Market Structure Bill
A January markup has been scheduled for the CLARITY Act, which aims to define the oversight roles of the SEC and CFTC and establish a federal framework for digital assets. The markup will be overseen by Senate Banking Committee Chair Tim Scott and Senate Agriculture Committee Chair John Boozman. This marks the first formal committee action in 2026 following multiple delays.
The CLARITY Act previously passed the House with bipartisan support in July, alongside the GENIUS Act, which was signed into law by President Trump. White House AI and crypto czar David Sacks confirmed the upcoming markup and indicated support from both the White House and Republican leadership.
Despite this progress, Democratic concerns regarding the independence of financial regulators remain. Senator Cory Booker has expressed skepticism about White House assurances on appointing Democrats to these regulators. Additionally, a possible Supreme Court ruling that could allow presidents to fire agency commissioners at will has raised further concerns about maintaining regulatory independence.
Critics of the CLARITY Act warn that the legislation could centralize power, mandate data collection and identity verification, and favor large, well-capitalized firms over startups.
