US Crypto Bill Gains Momentum in Senate Negotiations

The US government is making progress on the Digital Asset Market Clarity Act (CLARITY Act), which aims to establish clear regulatory boundaries for digital assets and define the roles of federal agencies overseeing the industry.

According to White House Crypto Council Executive Director Patrick Witt, lawmakers remain actively engaged in negotiations surrounding the bill. He emphasized that discussions between lawmakers, regulators, and industry stakeholders are taking place daily as they work through concerns raised by various Senate members.

The CLARITY Act seeks to answer one of the most controversial questions facing the crypto industry: which digital assets should be regulated as securities, and which should be treated as commodities? The legislation would establish a clearer framework dividing oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The bill has gained momentum, with more than 200 cryptocurrency companies, blockchain organizations, and industry groups signing a public letter urging lawmakers to advance it.