The Senate Banking Committee just voted on a bipartisan basis to advance crypto “market structure” legislation — a historic milestone that moves the crypto industry forward. How? Because the Digital Asset Market CLARITY Act (CLARITY) would finally create clear rules of the road for blockchain networks and digital assets.
Without clear regulation, the U.S. regulatory approach over the last decade has distorted markets, stifled innovation, and left consumers exposed to significant harms. CLARITY would end this failure. Like the Securities Act of 1933 — which established investor protections and powered a century of U.S. capital formation and innovation — CLARITY creates a once-in-a-generation shift in the U.S. financial regulatory landscape; the kind of shift that creates enormous opportunity.
Since just passing Senate “markup” today, the foundational legislation critical for the entire crypto industry — from startup founders and consumers to large traditional financial institutions moving onchain and investors — is now closer than ever to becoming law. Next, the two bills from the respective Congressional committees will be combined into a single comprehensive bill that will be voted on by the entire Senate. If this bill passes that vote, it will then be sent to the House for approval; and if successful there, will be sent to the White House for signature by the President.
