Reports indicate renewed momentum for the highly anticipated US crypto market structure bill, known as the CLARITY Act, after a period of prolonged stalling in the Senate.
Bipartisan Talks and Committee Confidence
Senior lawmakers are now expressing confidence that the bill could advance significantly before the end of the year:
- Senate Agriculture Committee Chair John Boozman (R-Ark.) stated his panel—which oversees crypto as a commodity—will finalize and release a bipartisan proposal “very, very soon,” with the first step expected before Thanksgiving (end of November). He committed to getting the bill “done this year.”
- Banking Committee Chair Tim Scott’s spokesperson also confirmed that bipartisan negotiations have resumed, and Scott is eager to advance the legislation.
This renewed effort occurs despite a recent month-long U.S. government shutdown.
Stalling and Resumption of Negotiations
Bipartisan progress was initially halted following the leak of a controversial DeFi regulation proposal championed by select Senate Democrats, including Senator Reuben Gallego.
- The proposal triggered significant industry backlash, leading Republicans to pause negotiations and causing the Senate Committee’s vote deadline to be extended.
- Talks only resumed after mediation by crypto industry leaders.
Legislative Path and Market Reaction
If the bill successfully clears the Senate Committee via a markup, it can then proceed to a floor vote. Following that, it must be reconciled with the original version passed by the House.
- Ticking Clock: Lawmakers are racing against the election clock, as political cooperation may become more strained ahead of next year’s midterm elections if the process stretches into early next year.
- Odds Improve: The market reacted positively to the news. According to betting platform Polymarket, the odds of the CLARITY Act passing this year have recovered from a low of 15% to 35%, reflecting the increased bipartisan hope.
The immediate challenge is finalizing the bill out of the Committee by the end of November, keeping the door open for a full passage before the close of the year.
November 2025, Cryptoniteuae
