Tim Scott Sets May Target for Senate Markup of CLARITY Act
Senate Banking Committee Chair Tim Scott said the panel is nearing consensus on the CLARITY Act and targeting a May markup. The timeline represents the most concrete commitment yet on the stalled crypto regulatory legislation.
Key Takeaways
- 1## Committee Timeline Announced Senate Banking Committee Chair Tim Scott said Tuesday the committee is working toward a bipartisan markup of the CLARITY Act in May, marking the most specific timeline commitment made on the legislation to date.
- 2Scott did not specify which week in May or provide conditions that might delay the markup, but indicated the panel has made progress toward consensus among members.
- 3## Status of the Legislation The CLARITY Act, which seeks to define regulatory authority over digital assets between the SEC and CFTC, has stalled in the Senate for months despite bipartisan support from lawmakers.
- 4The bill has faced competing demands from regulators and industry groups over how to delineate jurisdiction.
- 5A May markup would move the legislation from committee discussion to formal amendment and voting, a prerequisite for floor consideration.
Committee Timeline Announced
Senate Banking Committee Chair Tim Scott said Tuesday the committee is working toward a bipartisan markup of the CLARITY Act in May, marking the most specific timeline commitment made on the legislation to date. Scott did not specify which week in May or provide conditions that might delay the markup, but indicated the panel has made progress toward consensus among members.
Status of the Legislation
The CLARITY Act, which seeks to define regulatory authority over digital assets between the SEC and CFTC, has stalled in the Senate for months despite bipartisan support from lawmakers. The bill has faced competing demands from regulators and industry groups over how to delineate jurisdiction. A May markup would move the legislation from committee discussion to formal amendment and voting, a prerequisite for floor consideration.
Why It Matters
For Traders
Regulatory clarity on SEC vs. CFTC jurisdiction could materially reduce legal uncertainty for spot trading and derivatives, though the timeline remains fluid.
For Investors
A markup in May signals genuine bipartisan momentum toward codified crypto regulation rather than agency-by-agency guidance, lowering long-term policy risk.
For Builders
Passage of CLARITY would establish a statutory framework for compliance rather than relying on evolving SEC and CFTC enforcement postures, reducing regulatory whipsaw.
