Market Structure Legislation

Market Structure Legislation

News Analysis

How months of work on the Clarity Act all fell apart

Interviews with industry participants and legislative aides paint a picture of a blown bill-writing process, with sources pointing to nearly every facet of the bill's development and the debate around it as contributing factors to this month's failed vote.

Sen. Cynthia Lummis, one of the lawmakers who spearheaded the Digital Asset Market Clarity Act, speaking at CoinDesk's Policy & Regulation event on Sept. 22, 2026. (Merz Photography/CoinDesk)

Policy

Clarity Act's odds of passing plunge as Republicans reject Democrats' counter-proposal

Prediction markets sharply marked down the crypto market structure bill’s near-term prospects as negotiations remained stuck hours before a key Senate vote.

Sen. Cynthia Lummis (Kayla Bartkowski/Getty Images)

Policy

Democrats send counteroffer to Republicans over Clarity Act provisions

Democratic Senators were said to be meeting late Monday to discuss the latest proposed draft text.

Ruben Gallego (Nikhilesh De/CoinDesk)

Policy

SEC's Atkins backs Clarity Act but says agency will keep pushing crypto rules without it

The SEC chair said crypto issuance, transfer agent modernization and custody will form the backbone of the agency’s regulatory push.

U.S. Securities and Exchange Commission Chairman Paul Atkins (Jesse Hamilton/CoinDesk)

Policy

A bipartisan coalition of 17 state attorneys generals urge Senate to reject Clarity Act

The state AGs said they were concerned the crypto legislation might restrict their ability to bring securities and commodities cases tied to online scams.

New York Attorney General Letitia James (Michael M. Santiago/Getty Images)

Policy

Clarity Act odds surge on prediction markets, but crypto bill still faces long road

Kalshi and Polymarket bettors sharply raised the chances of U.S. crypto market structure legislation advancing, with Tuesday's Senate vote the next test.

Polymarket Clarity Act contract (Polymarket)

Policy

Binance founder CZ blames crypto's sour 2026 on mix of AI, global tension, 4-year cycle

There is no single cause for the crypto market's 50% decline over the past year, the Binance founder told CoinDesk.

Changpeng "CZ" Zhao (Nikhilesh De/CoinDesk)

Policy

JPMorgan warns time is running short for crypto market structure bill

The Clarity Act still faces several legislative hurdles, and disputes over stablecoin yield have emerged as a key sticking point, the bank said.

U.S. Congress (Jesse Hamilton/CoinDesk)

Policy

LIVE: Senate Banking Committee advances Clarity Act to full Senate floor

The Senate Banking Committee debated amendments before ultimately voting on the market structure legislation on Thursday.

CoinDesk

Policy

Senate Banking Committee plans to hold key market structure hearing on Thursday

The Senate Banking Committee announced it would hold its markup hearing for the Clarity Act on March 14.

Senator Kirsten Gillibrand (CoinDesk)