TechFlow, Dec 19 — According to Cointelegraph, David Sacks, the White House's AI and cryptocurrency envoy, announced on Thursday that the long-anticipated Digital Asset Market Clarity Act (CLARITY Act) will undergo markup in the Senate next January. The timeline has been confirmed by Senator Tim Scott, Chairman of the Senate Banking Committee, and Senator John Boozman, Chairman of the Senate Agriculture Committee.
The bill aims to clearly define digital asset securities and commodities, and delineate the regulatory responsibilities of the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other financial regulators, reducing regulatory uncertainty in the industry, encouraging innovation, and enhancing investor protection.
Although the bill was previously expected to pass before the end of 2025, its progress has been delayed due to a 43-day U.S. government shutdown in October and November. The bill passed the House of Representatives in July this year and, once approved by the Senate, will return to the House for final approval before being sent to President Trump for signing.
