U.S. Senate schedules amendment session for Clarity Act in January: David Sacks

David Sacks, White House AI and crypto advisor, stated that the leaders of key Senate committees have confirmed that the “markup” session for the Clarity Act will take place in January. This is seen as a significant step toward advancing this foundational crypto market structure bill toward approval.

According to Sacks, after discussions with Senate Banking Committee Chairman Tim Scott and Senate Agriculture Committee Chairman John Boozman, both sides agreed on the timing for the markup. He emphasized that the US is “closer than ever” to passing a legal framework for the crypto market structure that President Donald Trump previously called for.

The Digital Asset Market Clarity Act is a bipartisan bill aimed at establishing a clear regulatory framework for digital assets, particularly delineating jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The bill was passed by the House in July with strong support from both parties and is now moving to the Senate for committee review.

The Senate markup session will allow the Banking and Agriculture committees to review, propose amendments, and vote on the bill before it proceeds to a full Senate vote. Meanwhile, the Senate is also developing a separate draft on the crypto market structure, including the concept of “ancillary assets” to clarify which types of digital assets are not considered securities. The upcoming markup process may combine content from the House bill with proposals currently under discussion in the Senate.