Senators set January markup for crypto market structure bill

The closely watched Senate crypto market structure bill is officially heading to a review committee in January, White House AI and crypto czar David Sacks confirmed Thursday, moving landmark digital asset legislation closer to a floor vote despite Democrats’ lingering concerns about regulatory independence.

“We had a great call today with the chairs, Senator Tim Scott and John Boozman, who confirmed that a markup for Clarity is coming in January,” Sacks said. tweeted.

“Thanks to their leadership, along with Rep. French Hill and Congressman GT in the House, we are closer than ever to passing the historic crypto market structure legislation called for by President Trump.”

Senate Banking Committee Chairman Tim Scott (R-SC) and Senate Agriculture Committee Chairman John Boozman (R-AR) will oversee the markup, which would establish the first comprehensive federal framework for digital assets by defining regulatory jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The Digital Asset Market Clarity Act of 2025 (CLARITY Act) passed the House with bipartisan support in July, the same day lawmakers approved the GENIUS Act, the GENIUS Act. stable coin framework that has since been signed into law by President Donald Trump.

The planned increase, acknowledged earlier this week by Scott, would mark the bill’s first formal committee review in 2026 after repeated delays pushed it past summer, October and year-end targets.

Tensions remain

Trump said Monday he is open to appointing Democratic commissioners to the SEC and CFTC, a key requirement related to passage of the Clarity Act, saying Decrypt in the Oval Office: “There are certain areas that we look at and certain areas that we share power, and I’m open to that,” after months of refusing to fill legally required minority party seats within 90 days.

But that assurance may carry little weight after the Supreme Court suggested it could overturn 90-year-old precedent and allow presidents to fire agency commissioners at will, raising fears that Democrats could be appointed briefly and then removed.

Sen. Cory Booker (D-N.J.), a key Democratic negotiator, said last week that he did not trust the White House’s assurances about appointing Democrats to financial regulators.

“It’s a deep concern,” Booker said. Decrypt at the Blockchain Association’s annual policy summit. “This is a massive expansion of presidential power. We’ve already seen what (Trump) has done with that power, to benefit his friends in a very corrupt way.”

Kadan Stadelmann, Chief Technology Officer at Komodo Platform, said Decrypt the bill could undermine financial privacy while favoring well-capitalized companies over startups.

“While the CLARITY Act stands behind supporting innovation, it will likely require data collection, identity verification, and financial reporting that will transform crypto into a surveillance mechanism,” he said.

“The CLARITY Act is a boon for well-capitalized crypto companies, which can afford to implement the requirements, while smarter startups will not have the funds to compete,” Stadelmann noted. “Unfortunately, ultimately, it will be another tool of centralization.”