The CLARITY Act, which regulates the structure of the cryptocurrency market, is reportedly one step closer to becoming law, and is expected to be XEM and amended by the US Senate in January.
David Sacks, the White House director for Artificial Intelligence and Cryptocurrency Affairs, said the bipartisan bill would be finalized in the Senate next month, following its passage in the House of Representatives in July.
- The CLARITY Act is expected to be XEM and amended by the Senate in January.
- The bill clarifies the classification of cryptocurrency securities and cryptocurrency products.
- If the Senate passes the amendment, the bill will return to the House of Representatives before being presented to President Trump.
What stage is the CLARITY Act currently in?
The bill was passed by the House of Representatives in July and will be XEM , amended, and debated by the Senate in January before being put to a vote in the full Senate.
David Sacks wrote on the X platform on Thursday that Senate Banking Committee Chairman Tim Scott and Agriculture Committee Chairman John Boozman have confirmed that a bipartisan cryptocurrency bill will be finalized in the Senate next month.
The next step in the process involves the Senate reviewing and amending the bill, then debating it, before presenting it to the full Senate for a vote. If the amendments are passed by the Senate, the bill returns to the House of Representatives for final approval before being sent to President Trump's desk.
What changes does the bill bring to the cryptocurrency regulatory framework?
The CLARITY Act aims to clarify the distinction between cryptocurrency securities and cryptocurrency products, and to define the responsibilities of the SEC, CFTC, and other financial regulators.
According to the bill, it would establish the Vai and authority of the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and related agencies, thereby directly impacting how cryptocurrency businesses comply with regulations.
Supporters argue the bill reduces legal uncertainty with a clearer compliance roadmap, while also strengthening investor protection and encouraging innovation. Politically, Tim Scott is expected to secure an absolute majority to avoid the bill being indefinitely delayed.
