After a prolonged stall, bipartisan talks on the U.S. crypto market structure bill, known as the CLARITY Act, have resumed in the Senate, with lawmakers expressing confidence in advancing the legislation by year-end. Senator John Boozman (R-Ark.), Chair of the Senate Agriculture Committee, stated, "We’ll finalize our part of the bill and release a bipartisan proposal very, very soon. We’re going to get it done this year," aiming for a committee markup before Thanksgiving.
The bill, which seeks to clarify regulatory oversight between the SEC and CFTC, would assign Bitcoin and similar non-security assets to CFTC jurisdiction, reducing regulatory overlap. Discussions had previously broken down in October due to a controversial DeFi regulation proposal, but crypto leaders mediated to restart negotiations. Jeff Naft, spokesman for Banking Committee Chair Tim Scott, acknowledged the resumed talks, saying, "Mr. Scott is encouraged that bipartisan negotiations on market structure have resumed, and he looks forward to working with his colleagues to advance meaningful legislation."
Despite delays from a government shutdown and missed September 30 deadlines, progress has been noted, with Polymarket odds for passage jumping from around 15% to 35%. However, challenges remain, including potential strains from midterm elections, and some projections suggest the bill may extend into early 2026. If advanced, the bill would proceed to a Senate floor vote before reconciliation with the House-approved version.
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