What Comes Next for the CLARITY Act? Grayscale Flags Key Hurdles

"The CLARITY Act has cleared a key hurdle in the Senate Banking Committee on a bipartisan vote. That next phase starts with consolidation. CLARITY must be combined with the Digital Commodity Intermediaries Act (DCIA), which cleared the Senate Agriculture Committee on Jan. 29 in a 12-11 party-line vote. That combined Senate package also must be reconciled with the House version of CLARITY, which passed last July."

"The two Senate bills overlap, but they approach market structure differently. CLARITY is the broader framework. It covers token classifications, investor disclosures, intermediary registration, banking integration, anti-money laundering (AML) rules, and the division of authority between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). It also includes a three-tier digital asset taxonomy, Regulation Crypto, and Bank Secrecy Act rules for crypto intermediaries."

"The DCIA is narrower. It focuses on digital commodities, CFTC rules for brokers, custodians, exchanges, spot markets, customer fund segregation, disclosures, conflicts, and SEC coordination. Senate Must Merge Two Crypto Market Bills The two bills also differ in how they divide oversight between regulators. CLARITY keeps the SEC involved in digital asset securities and certain ancillary asset offerings, while DC"

The CLARITY Act advanced in the Senate Banking Committee by a 15-9 vote, with bipartisan support after two Democrats joined Republicans. The next step requires consolidating CLARITY with the Digital Commodity Intermediaries Act, which previously cleared the Senate Agriculture Committee. The combined Senate package must then be reconciled with the House version of CLARITY that passed last July. The two Senate bills overlap but differ in market-structure approach and regulator oversight. CLARITY provides a broader framework covering token classifications, investor disclosures, intermediary registration, banking integration, AML rules, and authority division between the SEC and CFTC, including a three-tier digital asset taxonomy. DCIA is narrower, focusing on digital commodities, CFTC rules for brokers and custodians, spot markets, customer fund segregation, disclosures, conflicts, and SEC coordination.

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