Crypto Industry's Clarity Bill Takes Shape Ahead of Final Vote

A long-awaited bill to establish market structure for the crypto industry has emerged in its final working draft, according to sources. The Digital Asset Market Clarity Act includes a contentious section banning crypto conflicts for the president, but this ban is set to conclude in 2029 and would leave the Department of Justice in charge of policing related ethics complaints.

The bill, which will clock in at hundreds of pages, reflects work from two relevant Senate committees, Banking and Agriculture, as well as new language meant to ensure the safety of digital assets users and investors. Despite this progress, Democratic lawmakers have yet to see the draft, and many are already expressing concerns about the ethics section.

The Senate is expected to need at least 10 Democrats to approve the final bill, which would then become law due to the chamber's requirement for 60 yes votes on most legislation. Majority Leader John Thune has indicated that floor action will move forward in the coming days before summer recess.