Senate Banking Committee faces critical January push on CLARITY Act crypto bill

The Senate Banking Committee is facing heighted pressure to advance the CLARITY Act before the Martin Luther King Jr. Day recess. Senator Tim Scott has signaled he may proceed without bipartisan support if negotiations stall.

Senator Cynthia Lummis urged Democrats to participate in the markup, arguing that clear jurisdiction and protections are essential to prevent crypto companies from moving overseas and to ensure America leads the global digital asset market.