U.S. Senate Committee Advances CLARITY Act

The CLARITY Act has gone a step further after the U.S. Senate Agriculture Committee approved portions of the cryptocurrency market rescue bill during its markup session.

The committee passed the Digital Goods Intermediaries Act by a narrow margin of 12 to 11, with Republicans supporting the bill and Democrats opposing it. This is the first time a Senate committee has advanced portions of the CLARITY Act, which aims to provide clearer rules for the U.S. cryptocurrency industry.

The section approved by the Agriculture Committee primarily focuses on giving the Commodity Futures Trading Commission (CFTC) more authority to regulate intermediaries and cryptocurrency assets that are treated as commodities. Lawmakers discussed several amendments to the increase, but none received bipartisan support.

🚨BREAKING NEWS: Market rescue bill advances, taking important first step in Senate. pic.twitter.com/sKg9D2NzrN

— Senate Agriculture Committee Republicans (@SenateAgGOP) January 29, 2026

The next step in the process now moves to the Senate Banking Committee, which is responsible for reviewing the remainder of the CLARITY Act. But the Banking Committee is not expected to keep the hike in place until late February or March, meaning progress could slow in the near term.

CLARITY Act faces ethical debate as White House intervenes

There are also concerns that the legislative process could be further delayed if the U.S. government is shut down until the end of this week. However, discussions are reportedly underway to avoid a long-term closure. The bill also received a boost following reports that the White House plans to step in to resolve differences of opinion between banks and cryptocurrency companies, particularly over the provision banning stablecoin yields.

The White House is scheduled to meet with executives from both industries next week, raising hopes that a compromise could be reached before the Banking Committee begins its review. Despite this progress, ethical concerns remain a major issue for Democrats. Lawmakers objected to the lack of provisions addressing former President Donald Trump’s ties to cryptocurrency-related companies.

Senator Michael Bennet proposed an amendment that would block high-ranking government officials and their families from having direct relationships with cryptocurrencies, but the committee rejected it.

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