Senate Advances Crypto Market Structure Bill with Key Stablecoin Provisions
The CLARITY Act moves toward January 15 markup with bipartisan support, as Senator Cynthia Lummis confirms Senate review. Banking and crypto lobbyists have negotiated provisions including the GENIUS Act's stablecoin framework—a potential catalyst for institutional adoption.
Market observers note alignment with Senate Banking Committee sessions chaired by Tim Scott. The bill's progression coincides with Bitcoin (BTC) and ethereum (ETH) testing key resistance levels, while altcoins like SOL and DOT show muted reactions.
Exchange activity remains concentrated on Binance and Coinbase, with derivatives volumes spiking on Bybit and Bitget ahead of the legislative milestone.