U.S. Senator John Kennedy confirmed that the Senate Banking Committee will move ahead with a markup vote on the CLARITY Act next Thursday, January 16, despite ongoing disagreements over key provisions.
The bill is intended to establish a clearer regulatory framework for crypto markets, including defining oversight responsibilities between the SEC and the CFTC, with the CFTC positioned as the primary spot market regulator.
Senator Tim Scott, who chairs the committee, plans to hold the vote “come hell or high water,” Kennedy said.
However, several contentious issues remain unresolved. These include how to regulate decentralized finance protocols, whether stablecoins that pay interest should be treated like bank deposits, and concerns over enforcement authority.
Traditional banking groups argue that yield-bearing stablecoins could unfairly compete with banks.
The crypto industry, meanwhile, fears that excessive SEC authority could revive an enforcement-heavy approach seen under former Chair Gary Gensler. The outcome of the vote could significantly influence U.S. crypto policy in 2026.
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