US Senate to review crypto market structure bill on Jan. 15

The Republican-led U.S. Senate has scheduled a review for the market structure bill, known as the CLARITY Act, for Jan. 15, Crypto in America reported, citing multiple sources. The review follows a delay from last year, when Republican senators had made a concerted effort to pass the legislation. David Sacks, the White House's head of AI and cryptocurrency, had previously confirmed that the Senate would take up the bill in January. The bill aims to establish a clear regulatory framework for the digital asset industry by delineating the jurisdictional roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It also includes provisions to exempt certain cryptocurrencies that meet specific criteria from the registration requirements of the Securities Act of 1933.