Senate Sets CLARITY Act Markup Jan 29, 2025 — Key Step Toward Federal Crypto Rules

The U.S. Senate Banking Committee has scheduled a markup of the CLARITY Act (Crypto-Asset Regulatory Framework and Investor Transparency Act) for 29 January 2025 at 15:30 UTC. The markup is a committee-level debate, amendment and vote that, if passed, would send the bill to the full Senate. The CLARITY Act aims to create a federal regulatory framework for digital assets by clarifying jurisdiction between the SEC and CFTC, setting rules for asset classification (securities vs. commodities), exchange registration, stablecoin oversight, custody standards and investor disclosures. The updated scheduling shortens previously reported delays and signals renewed committee momentum. Market participants — exchanges, custodians, token issuers and institutional investors — are preparing compliance plans and filing proposed amendments. For traders, the markup itself won’t change market rules immediately but is a key catalyst: successful committee passage would raise the probability of nationwide regulatory clarity, reduce state-federal fragmentation, and could materially affect liquidity, product launches and institutional offerings. Expect increased volatility around committee and floor votes and an extended legislative timeline due to political factors (including election-year slowing), which keeps regulatory risk elevated in the near term.