Ahead of Banking Committee Markup, Senate Republicans Release CLARITY Act Fact Sheets

Ahead of a scheduled markup by the Senate Banking Committee on January 15, Senate Republicans released fact sheets outlining the Digital Asset Market CLARITY Act. The legislation aims to establish a clear federal framework for digital assets by defining which assets fall under securities versus commodities law, thereby dividing oversight between the SEC and CFTC. The fact sheets emphasize that the Act strengthens consumer protection through enhanced disclosure requirements, maintains existing anti-fraud authorities, and implements a robust framework to combat illicit finance and strengthen sanctions compliance for centralized intermediaries. Furthermore, the bill explicitly protects software developers who publish code without controlling customer funds and preserves the right to self-custody, focusing regulatory obligations on centralized intermediaries interacting with DeFi protocols. Supporters argue the CLARITY Act closes regulatory gaps, prevents regulatory arbitrage, and brings legitimate activity onshore under stronger federal oversight.

(Source：Bitcoin Magazine)