US Lawmakers Prepare New Crypto Rules as Senate Revives Clarity Act

Lawmakers in Washington are set to renew efforts this week on a comprehensive market structure bill that could shape the future of crypto assets in the United States. The legislation, which stalled last year, aims to establish clear regulatory frameworks for cryptocurrencies and blockchain technology. Senate committees are scheduled to hold hearings on Thursday, potentially revising key provisions to build momentum toward passage.

The proposed Clarity Act seeks to define the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission in overseeing cryptocurrencies. It would create distinct classifications for tokens and establish registration requirements for crypto exchanges, brokerages, and other crypto entities. Industry leaders believe these changes could encourage more digital asset companies to operate domestically, fostering innovation and economic growth.

Summer Mersinger, CEO of the Blockchain Association, emphasized the importance of permanent regulatory clarity. She noted that recent shifts have brought companies and activity back to the United States under a more supportive administration. Without codified rules, however, these gains could reverse if political conditions change in the future.

Key Issues in Upcoming Negotiations

Several critical topics remain under discussion as committees prepare revised drafts. One major focus involves rewards or yields associated with stablecoins, which some view as a competitive threat to traditional banking products. Banking groups have urged lawmakers to close perceived loopholes that allow stablecoin issuers to offer interest-like benefits to holders.

Another priority centers on the treatment of DeFi platforms and their developers. Advocates are pushing for protections that prevent liability when protocols are misused for illicit purposes. They also seek explicit allowances for self-custody of digital assets and exemptions for developers who do not hold customer funds.

A third area of debate concerns potential conflicts of interest for elected officials involved in crypto ventures. Some senators want provisions to restrict public figures from profiting from digital assets during their terms. This issue proved challenging in prior discussions and may require careful drafting to address concerns from both parties.

Committees plan to release updated versions of the bill ahead of Thursday's markup sessions. The Agriculture and Banking Committees will then work to combine their drafts into a single proposal for Senate consideration. Passage could take weeks on the floor before advancing through the full legislative process.

Industry representatives stress the need for timely action before the 2026 midterm elections. They worry that shifts in congressional composition could complicate future efforts. With competing priorities on Capitol Hill, this window represents a crucial opportunity to secure lasting regulatory certainty for the crypto sector.