Editor's PiCK
US Senate Democrats to hold closed-door meeting on Feb. 4 on crypto market structure bill
Summary
- US Senate Democrats said they will hold a closed-door meeting on Feb. 4 to discuss the crypto-asset (cryptocurrency) market structure bill, the Clarity Act.
- They said the Clarity Act seeks to clarify regulatory jurisdiction over digital assets and set out the division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
- They said as internal Democratic discussions gather pace, attention is on whether this will affect the prospects for a bipartisan agreement and the timing for bringing the bill to the Senate floor.
US Senate Democrats are set to hold a closed-door meeting to discuss the crypto-asset (cryptocurrency) market structure bill known as the “Clarity Act.”
Eleanor Terrett, host of Crypto America, said on X (formerly Twitter) on the 3rd (local time) that Democratic senators plan to hold an internal meeting on Feb. 4 focused on the bill.
The meeting will mark the Democrats’ first official forum for discussions since last month’s Senate Republican conference was postponed. Democratic senators are expected to exchange views centered on the Clarity Act’s key issues and legislative strategy going forward.
The Clarity Act aims to clarify regulatory jurisdiction over digital assets and define the division of responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The bill is currently moving through the Senate committee stage.
As internal Democratic deliberations gather pace, attention is turning to whether this will affect the prospects for a bipartisan agreement and the timing for bringing the bill to the Senate floor.
JH Kim
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