TL;DR
- Bipartisan talks on the “CLARITY Act” resume in the Senate, despite the historic 31-day government shutdown.
- The Senate Agriculture Committee, led by Boozman and Booker, is working “daily” toward a vote “before Thanksgiving.”
- The Banking Committee is also advancing, although Senator Kennedy urges caution and the need for a public hearing.
Bipartisan negotiations in the U.S. Senate over a long-awaited U.S. crypto market regulation package, known as the “CLARITY Act,” have resumed with urgency. This progress comes even as Washington D.C. remains paralyzed by a government shutdown now in its 31st day, one of the longest in the nation’s history.
Lawmakers from both parties have been accelerating talks in recent weeks, aiming to finalize this market structure bill before election politics stall any legislative progress. The bill seeks to redefine the oversight of digital assets in the country.
Key Committees Accelerate Negotiations
The momentum is concentrated in key committees. Senate Agriculture Committee Chair John Boozman (R-Ark.) confirmed that he and Sen. Cory Booker (D-N.J.) are working “daily” to complete their section of the legislation.
This part is crucial, as it would establish the regulatory framework for digital assets treated as commodities. Boozman expressed optimism, expecting a committee vote “before Thanksgiving” and declaring, “We’re going to get it done this year.” Booker, for his part, clarified that the goal was to “get the policy right” rather than rush the timeline.
In parallel, discussions have gained momentum in the Senate Banking Committee. Senators Cynthia Lummis (R-Wyo.), Ruben Gallego (D-Ariz.), and Angela Alsobrooks (D-Md.) indicated that the talks resumed after weeks of delay.
The committee chairman, Tim Scott (R-S.C.), was “encouraged” by the progress and expressed his desire to advance “meaningful legislation.” This joint effort seeks to define how digital assets fit within U.S. regulations and the tax code.
Nonetheless, some members are urging caution. Senator John Kennedy (R-La.) warned that the bill is not yet ready and requires a public hearing, stressing that many lawmakers still need to fully understand the complex issue of U.S. crypto market regulation before a final vote.
