A draft bill from the U.S. Senate Banking Committee, part of the proposed Digital Asset Market Clarity Act, seeks to classify certain network tokens as commodities, placing them in the same regulatory category as Bitcoin (BTC) and Ethereum (ETH).
The 278-page draft, released on January 13, 2026, specifies on page 98 that network tokens shall not be classified as "ancillary assets." The bill establishes a clear criterion: tokens that are part of a regulated exchange-traded product (ETF or ETP) by January 1, 2026, qualify for this commodity classification. This provision directly applies to tokens like XRP, Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), Hedera (HBAR), and Chainlink (LINK), which already meet the ETF condition.
Wall Street analysts view the potential passage of the Clarity Act as a "hallmark catalyst" for a potential altseason in 2026. The draft has garnered bipartisan support and reflects a broader shift in Washington from regulatory enforcement via lawsuits toward establishing clear legislative rules. The bill is noted for protecting software developers and avoiding controversial stablecoin yield regulations.
Despite the significant long-term implications, immediate market reaction was muted. Bitcoin traded near $93,000 following the news, while major altcoins showed limited price movement. Experts attribute this calm to the bill's status as a draft, subject to amendment and committee processes in the coming 48 hours and beyond. The primary initial impact is expected on compliance desks at financial institutions, which require regulatory clarity before deploying significant capital.
The move is seen as reducing long-term legal risk for the affected tokens by providing a "compliance comfort zone" similar to Bitcoin's, potentially paving the way for greater institutional investment from pension funds and asset managers previously hesitant due to regulatory gray areas.
