Senate Banking Committee Sets Markup Vote for Crypto Market Structure Bill
Senator John Kennedy confirmed the Senate Banking Committee will hold a markup vote next Thursday on the CLARITY Act, legislation aimed at defining regulatory roles for the SEC and CFTC in crypto markets. The vote proceeds despite unresolved issues, including DeFi oversight and yield-bearing stablecoins.
Republican Senator Tim Scott, chairing the committee, has signaled determination to advance the bill. The CLARITY Act designates the CFTC as the primary spot market regulator while clarifying securities law applicability—a MOVE watched closely by institutional and retail traders alike.
Key hurdles remain: bipartisan staffing at agencies, ethics concerns around political figures' crypto holdings, and the treatment of interest-paying stablecoins. These unresolved items suggest potential amendments post-vote.
