The cryptocurrency market structure bill, the "CLARITY Act," is expected to be submitted to the Senate for review in January

According to market news, David Sacks, the White House's head of artificial intelligence and cryptocurrency affairs, stated that the cryptocurrency market structure bill, the "CLARITY Act," is one step closer to formal legislation, with a Senate review and revision expected in January.

On Thursday, Sacks posted on the X platform that Senate Banking Committee Chairman Tim Scott and Agriculture Committee Chairman John Boozman have confirmed that this bipartisan-supported cryptocurrency bill will be finalized in the Senate next month. The "CLARITY Act" will clarify the definitions of crypto securities and crypto commodities, delineating the responsibilities of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other financial regulatory agencies.

Supporters of the bill argue that it will reduce regulatory uncertainty faced by crypto companies by establishing a clearer compliance pathway, while encouraging innovation and strengthening investor protection. The House of Representatives passed the bill in July, and the Senate will next review, revise, and debate it before sending it to the full chamber for a vote. Tim Scott needs to secure the bill's passage by an absolute majority to prevent it from being indefinitely shelved. If the Senate passes the bill with amendments, it will return to the House for final approval before being sent to Trump's desk.