In the past two days (January 13–14, 2026), the U.S. announced/promoted the core cryptocurrency legislation#GateTradFi上线

1. Core Legislation and Key Contents

1. Draft of the "Digital Asset Market Clarity Act" (CLARITY Act): On January 13, the Senate Banking Committee released a 278-page draft. The core is to delineate regulatory authority between the SEC and CFTC, with most cryptocurrencies (such as BTC, ETH) regulated by the CFTC as digital commodities, and securities-like tokens regulated by the SEC; prohibits paying interest solely for holding stablecoins used for payments, allows rewards in specific scenarios like payments/staking, with details of stablecoin yields still marked as "TBD"; establishes a dedicated DeFi regulation chapter, clarifying that front-end operators must comply with sanctions rules and are responsible for operations; protects rights for self-custody and P2P transactions. Originally scheduled for committee markup vote on January 15, some agenda items were postponed due to Coinbase CEO opposition.

2. The "Blockchain Regulatory Certainty Act": Proposed on January 13 by Lumis and Widen, aims to protect developers from remittance licensing requirements, providing legal protections for DeFi developers. It complements the CLARITY Act but offers different levels of protection.

3. Revised "Digital Asset Clarification Act": Announced on January 13 by Tim Scott, focusing on retail investor protection, innovation, and national security, promoting institutional capital entry.

2. Key Developments and Impacts

• Clear regulatory division of responsibilities: Most cryptocurrencies regulated by the CFTC, reducing enforcement uncertainty for the SEC, facilitating institutional entry.

• Stricter stablecoin regulation: Pure holding and interest payments are banned, leading to intense negotiations between banks and crypto institutions.

• DeFi legislation introduced for the first time: Front-end compliance and operator responsibility are core issues, with significant industry disagreement.

• Industry attitudes divided: Coinbase opposes the current version, believing it is worse than the status quo; some institutions are awaiting certainty.

3. Next Steps

• The Senate Banking Committee originally scheduled a vote for January 15, but it has been postponed for negotiations and revisions.

• The Agriculture Committee will release the bill on January 21 and hold a hearing on the 27th to advance parallel legislation.