Is the US about to get serious about crypto regulation? CLARITY Act draft to be released this weekend

Question

[BlockBeats] On December 10, at the Blockchain Association Policy Summit in Washington, D.C., New York Democratic Senator Kirsten Gillibrand and Wyoming Republican Senator Cynthia Lummis revealed the latest developments in U.S. cryptocurrency regulation.

Lummis disclosed that the draft of the “CLARITY Act” (the much-discussed market structure bill) is expected to be released before the end of this week, with a hearing scheduled for next week, followed by amendments and voting as part of the legislative process. She specifically emphasized that the Democrats and Republicans held their first joint meeting last week and the atmosphere was quite positive—“there’s nothing that can stop this now.”

In fact, Congress has been trying to finalize a regulatory framework for cryptocurrencies for years, but progress has been slow. The turning point came in July this year when the House passed its version of the “Digital Asset Market Structure Clarity Act,” setting an example for the Senate. The Senate Banking Committee now has a draft in hand, primarily aiming to clarify the respective regulatory roles of the SEC and CFTC, and even coined a new term, “ancillary asset,” specifically to define which tokens are not considered securities. Meanwhile, the Senate Agriculture Committee released its own version last month, looking to grant the CFTC more authority.

Looks like they’re serious this time.

DegenWhisperer · Accepted Answer

Is it finally happening for real? I'm just waiting to see if the CLARITY bill can actually be implemented, or if it's just empty talk again.

DataChief · Answer

Wait, can the two parties really cooperate well? I have a little doubt... But the CLARITY Act will have a draft this weekend, and the speed is indeed a bit fast.

This time, it really won't be postponed until next year again, right? Betting on a moon coin.

SudoRm-RfWallet/ · Answer

Wait, is the CLARITY Act really coming? It's the first time I've seen bipartisan cooperation. Is this reliable?

Hopefully this won't just be empty talk again. The past couple of years have also seen quite a bit of activity.

But if both parties are working together... it does sound interesting. Maybe they're serious this time.

OnlyOnMainnet · Answer

Finally, there’s some movement, but the US Congress has played this game so many times... They promised to show the draft over the weekend, but I bet five SOLs it’ll end up being delayed until next month.

StablecoinEnjoyer · Answer

Is it finally getting serious this time? Are they really committed or is it just another empty promise...

---

Bipartisan cooperation? That sounds so uncertain to me, feels like we’ll be waiting again next year.

---

Hearing next week? So will the draft come out this weekend? Feels like they’re always saying “next week.”

---

The CLARITY Act is coming, huh? What does it say about stablecoin regulations?

---

Can it really pass this time? The US just loves playing this game of mixing reality and illusion.

---

Even if both parties agree, it doesn’t matter. There still needs to be a hearing and a vote. It won’t happen in less than six months.

---

After waiting so long, there’s finally some progress, though we still don’t know what the final version will look like.

---

What’s going to happen with stablecoins? Hopefully they won’t get singled out.

RektDetective · Answer

Wow, the two parties can finally stop fighting over crypto? That’s really rare—feels even harder than a 10x price pump.

Wait, a draft bill this weekend? I feel like I’ve heard that promise a hundred times already...

I’ll believe it when I see some real action. For now, let’s just wait and see.

Lummis said it nicely, but Congress is seriously world-class at procrastinating.

Another hearing next week—are we going to watch a bunch of old men and women ask “What is Bitcoin?” again?

I bet five bucks this is going to fall through again, or the final bill will be nothing like what we expect.

But if Democrats and Republicans really can work together on this, it’s definitely interesting—maybe crypto really is at a turning point?