In brief – Senate Banking Republicans released the draft text of the crypto market structure bill Wednesday ahead of a key committee vote on Thursday. – Two provisions, a January 1, 2026 ETF cutoff and a 60-day auto-certification window, would sharply limit the SEC’s…
risdiction over digital assets. – The current draft draws a clearer regulatory perimeter for digital assets than any prior legislation, Decrypt was told. The Senate Banking Committee released draft text for the CLARITY Act just past midnight Wednesday that could permanently exempt Bitcoin and Ethereum from federal securities law, ahead of a markup that’s been scheduled for Thursday this week
Committee Chairman Tim Scott, Subcommittee on Digital Assets Chair Cynthia Lummis, and Senator Thom Tillis jointly released the text after months of bipartisan negotiations that included a last-minute stablecoin yield compromise and a deal on developer protections. Chairman @SenatorTimScott, @SenLummis, and @SenThomTillis released market structure text ahead of this week’s markup. The Senate’s CLARITY Act delivers clear rules of the road, protects investors, combats illicit finance, and keeps innovation in America.https://t.co/gWwZnX4lwY— U.S.
Senate Banking Committee GOP (@BankingGOP) May 12, 2026 The bill “reflects serious, good-faith work across the Committee,” Scott said in a joint statement, adding it “delivers the certainty, safeguards, and accountability Americans deserve.” Lummis said the text represented “nearly a year of bipartisan, blood, sweat, and tears.” “Wyoming led the way, and Washington is catching up,” she added. The bill stalled in January after Coinbase pulled its support over stablecoin yield restrictions, delaying a committee vote that had already been scheduled. Tillis and Senator Angela Alsobrooks later brokered a yield compromise.