U.S. Senate Works on New Crypto Market Structure Bill

The House of Representatives passed the Digital Asset Market Clarity Act with a 308-122 vote, setting the regulatory stage for U.S. crypto. Meanwhile, the Senate is working on a similar bill that could overshadow it.

The Senate aims for a bipartisan approach to gain significant Democratic support for the final bill.
If the Senate passes its version, it will go to the House and potentially be signed into law by President Trump.
The process involves several steps: Senate amendments, committee approvals, full Senate vote, House vote, and presidential signing.
The new legislation would establish clear regulations for digital assets and elevate the Commodity Futures Trading Commission's role.
Current discussions are based on a 182-page draft from Republicans, not yet formally introduced.
Senate negotiations are complicated by budget talks and potential government shutdowns.
If passed, federal agencies must develop detailed regulations, a process that can take years.

The Clarity Act is a starting point, but extensive rulemaking and implementation are required before complete regulation is in place.