The Senate Banking Committee opened a high-stakes markup for crypto on the Digital Asset Market Clarity Act.
The Senate Banking Committee opened a historic markup Thursday morning on H.R. 3633, the Digital Asset Market Clarity Act of 2025, moving the most sweeping attempt at federal cryptocurrency regulation in American history toward a committee vote.
The session — defined by sharp partisan exchanges, procedural disputes, and targeted Republican courtship of crossover Democrats — unfolded against a hard deadline: if the bill does not clear the committee before the Memorial Day recess, the entire legislative calendar resets.
Chairman Tim Scott (R-SC) opened by casting the bill as a correction to years of regulatory failure.
“For years, the digital frontier was trapped in a regulatory gray zone,” he said. “Developers, entrepreneurs and investors were left with uncertainty. They faced confusion and enforcement actions when instead the government should have been crafting clear rules of the road.”
