The legislative blockade is breaking. Senate Banking Committee Chairman Tim Scott (R-SC) has officially scheduled the markup for the Digital Asset Market Clarity Act (CLARITY) for January 15, 2026. The move confirms reports from White House Crypto Czar David Sacks and marks the first concrete step toward a comprehensive federal market structure regime since the House passed the measure in July 2025.
The Receipt
Chairman Scott’s office confirmed the date following a strategy session with Senate Agriculture Chair John Boozman (R-AR). This is not a drill: the committee will meet to debate and vote on amendments, a procedural hurdle that has stalled market structure legislation for six months. David Sacks corroborated the timeline on X, stating the administration looks forward to “finishing the job in January.”
Market Reaction & Data
Traders didn’t wait for the gavel. Bitcoin held firm at $88,004 (+3.6%), while Ethereum pushed $2,991. The real signal, however, is in the prediction markets: Kalshi odds for the bill becoming law before April jumped to 42% following the announcement. The market is pricing in a functional legislative pipeline, not just another hearing.
We had a great call today with Chairmen Senator Tim Scott and John Boozman who confirmed that a markup for Clarity is coming in January. Thanks to their leadership… we are closer than ever to passing the landmark crypto market structure legislation. David Sacks, White House AI & Crypto Czar
The Devil in the Brackets
Do not mistake a markup for a victory lap. While the Senate successfully passed the GENIUS Act (stablecoins) last July, the CLARITY Act is heavier lifting. It requires delineating the exact boundary between SEC and CFTC jurisdiction. Sources indicate the current draft still contains “bracketed text”, placeholder language where Republicans and Democrats have yet to agree, specifically regarding DeFi liability and the precise threshold for an asset to transition from security to commodity. Chairman Scott needs to close these gaps by the 15th to prevent a partisan deadlock.
This is the endgame for US regulatory uncertainty. If Scott can muscle this out of committee with even slim bipartisan support, a floor vote becomes inevitable in Q1.
