The CLARITY is one step closer to advancing in the U.S. Senate, as the Banking Committee has reportedly picked a date for the markup of the crypto bill. This comes as crypto traders bet that the bill will become law in the first half of next year.
Senate Banking Committee Reportedly Picks Markup Date For CLARITY Act
According to a Crypto in America report, senators on the Banking Committee picked January 15 for the markup of the crypto bill. However, the report noted that it remains unclear whether Republicans and Democrats have reached a common ground to support a bipartisan markup where senators from both parties could vote yes in support of the bill advancing to the Senate floor.
CoinGape reported that the CLARITY Act markup was delayed to next year after several issues stalled negotiations between both parties. These issues had bordered on the GENIUS Act’s stablecoin-yield restrictions, token classification, illicit finance, and ethics in the crypto bill.
However, this latest development suggests that the Republicans and Democrats have been able to reach a common ground. The crypto bill could head to the Senate floor once the Banking Committee votes on proposed amendments. Bipartisan support would be key at that stage, especially to avoid a similar delay the GENIUS Act faced.
The CLARITY Act could become the second major crypto bill to become law and provide a more comprehensive regulatory framework for the crypto industry than the GENIUS Act. Crypto ETF issuer Bitwise predicted that Ethereum and Solana could reach new highs if the bill passes and becomes law.
Crypto traders are currently betting that the crypto bill will become law in the first half of next year. Kalshi odds show a 42% chance the bill will become law before April, and a 69% chance it could become law before May.
Source: CLARITY ActSource: https://coingape.com/clarity-act-set-to-advance-as-senate-picks-january-15-for-crypto-bill-markup/
