Signs of life?: State of Crypto
Lawmakers are preparing an updated version of the Clarity Act, a crypto market structure bill, to be unveiled this week. The legislation combines previous committee drafts, though it still lacks key ethics provisions and faces a tight timeline for a Senate floor vote.
Why it matters
This bill represents a significant legislative effort to establish a regulatory framework for the cryptocurrency industry in the United States.
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Multiple individuals familiar with the Clarity Act discussions told CoinDesk last Thursday that lawmakers intend to unveil an updated version of the crypto market structure bill this week. The new text combines the bills previously passed out of committee by the Senate Banking and Agriculture panels, and is the result of those respective bodies negotiating over various provisions.
As this newsletter and CoinDesk's Jesse Hamilton have both pointed out repeatedly, time is running short for the Clarity Act to wind its way through Congress and to the president's desk for a signature in 2026. A new draft being released could indicate progress, but if the key areas of disagreement haven't been resolved, it won't be as much progress as the industry hopes for.
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