Senators Signal Crypto Market Structure Bill Near Senate Markup as Passage Odds Rise

Wyoming Senator Cynthia Lummis said on Wednesday that the crypto market structure bill, also known as the CLARITY Act, is close to becoming bipartisan legislation, with a Senate markup scheduled for January 15. The proposal would define most crypto assets as commodities overseen by the CFTC, narrow the SEC's jurisdiction to true securities, and add protections for developers, while prediction markets give rising odds that it will become law by year-end.