The Digital Asset Market Clarity Act is gaining momentum as it prepares to reach the Senate floor. According to Senator Tim Scott, the bipartisan legislation will soon move forward after years of negotiation between federal regulators.
Scott, Chairman of the Senate Banking Committee, has indicated that the bill is 'in the red zone' and approaching a committee markup expected in May 2026. This development marks a significant milestone in US crypto legislation, which has been stalled due to jurisdictional friction between the SEC and CFTC.
The Clarity Act aims to establish clear regulatory boundaries for digital assets and address market structure questions that have been left unresolved by previous legislation. By creating a third category of 'permitted payment stablecoins', the bill seeks to provide clarity on the classification and oversight of digital assets in the US.