bipartisan

Jason Smith, the chairman of the U.S. House of Representatives' fundraising committee, stated that digital asset tax legislation must receive bipartisan support; otherwise, the related bill process will not advance. Subsequently, U.S. Representatives Steven Horsford, Max Miller, Suzan DelBene, and Mike Carey jointly proposed the "Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Revenue Act" (PARITY Act). The bill aims to update digital asset tax rules, provide a clearer regulatory framework for the market, while enhancing investor protection and preventing market manipulation.Representative Steven Horsford stated that the bill will help ordinary investors participate more safely in the digital asset market and promote wealth accumulation opportunities. Max Miller believes that the current U.S. tax laws are unable to adapt to the rapid development of digital assets and modern financial technology. Currently, the PARITY Act and the advancing CLARITY Act are seen as important components of establishing a comprehensive regulatory system for crypto assets in the United States.The U.S. Congress released a tax policy discussion draft in March this year and held a bipartisan roundtable in May to discuss the tax framework for crypto assets. The market is closely watching whether the CLARITY Act can be passed by 2026. Analysts believe that if both the CLARITY Act and the PARITY Act are ultimately legislated and combined with the subsequent rule-making of the GENIUS Act, the U.S. crypto industry will welcome a clearer regulatory environment, further promoting Web3 and DeFi into the mainstream financial system.

According to CoinDesk, during a recent Senate Banking Committee review, substantial progress was made in advancing the Digital Asset Market Clarity Act, referred to as the "CLARITY Act," which passed into the Senate full review stage with a vote of 15 to 9.Several bipartisan lawmakers emphasized the urgent need for the United States to establish a unified regulatory framework covering digital assets to clarify asset classification, trading platform regulation, and market structure rules, thereby providing long-term certainty for the industry. Angela Alsobrooks pointed out from a family perspective that the younger generation shows a natural interest in digital assets, and the regulatory system should strike a balance between "opportunity and protection" to avoid technological development being detached from regulatory constraints. Tim Scott emphasized that legislation should be promoted from the perspective of economic opportunity and the American Dream, while Cynthia Lummis stated that the legislative process has already shown a clear foundation for bipartisan cooperation.Supporters believe that digital assets have become an irreversible trend, with approximately 68 million Americans holding related assets, but a significant amount of trading still occurs on overseas platforms. The U.S. urgently needs to establish a domestic regulatory system to enhance market transparency and investor protection levels.Analysis indicates that the CLARITY Act is seen as a key complement following the stablecoin-related legislation (GENIUS Act). Without supporting rules at the market structure level, the U.S. may lose its leading position in the competition for digital financial infrastructure. As the bill advances to the Senate full stage, there is widespread attention on whether it can achieve final legislation based on bipartisan consensus to establish the core rules of the U.S. digital asset regulatory framework.

According to CoinDesk, bipartisan lawmakers Steven Horsford, Max Miller, Suzan DelBene, and Mike Carey jointly reintroduced the "Digital Asset Protection, Accountability, Regulatory, Innovation, Taxation, and Revenue Act" (also known as the "Equality Act") this Wednesday. The new version of the bill mainly covers the following points: first, it stipulates that regulated payment stablecoins do not generate gains or losses if the cost basis is not less than 99% of the redemption value; second, it establishes a safe harbor for broker-dealer transactions or taxpayer account transactions; third, it clarifies that "wash sale" rules apply to digital assets; fourth, it requires the IRS to assess the current tax burden of small cryptocurrency transactions and to study the feasibility of establishing a tax exemption for transactions under $200 and the potential risks of abuse.The cryptocurrency industry has long advocated for tax exemptions on small transactions to promote the use of cryptocurrencies in everyday payment scenarios. Lawmaker Horsford stated that tax policy is the foundation of the cryptocurrency regulatory framework, and that current tax laws have not clearly addressed many core issues related to digital assets.

According to crypto journalist Eleanor Terrett, sources say that a bipartisan group of minority senators in the U.S. Senate held discussions last night regarding the CLARITY Act, attempting to push the Democrats to make concessions on at least two outstanding issues, but ultimately failed to reach an agreement.Senator Cynthia Lummis stated that both sides had reached consensus on "99% of the content" of the bill and expressed hope that the Democrats would continue to address the remaining issues after the bill passes committee review; otherwise, if a similar incident to FTX occurs in the future, "they can only blame themselves."Reports indicate that Democratic Senators Adam Schiff and Ruben Gallego have been pushing for a compromise on the ethical standards and conflict of interest clauses involving the president's family before the committee review, making it one of the conditions for supporting the bill.Additionally, some Democratic lawmakers have raised concerns about provisions related to the Blockchain Regulatory Certainty Act (BRCA). This provision aims to prohibit lawsuits against non-custodial software developers based on money transfer laws.Sources say that both sides have made substantial progress on ethical and conflict of interest issues, but disagreements over amendments to the BRCA ultimately led to the breakdown of negotiations. The market currently widely expects that this committee review will show clear partisanship.

According to Cointelegraph, Tim Scott, the chairman of the U.S. Senate Banking Committee, stated that bipartisan support has been gained for cryptocurrency market structure legislation, and consensus within the industry is the final obstacle. He revealed that communication with Coinbase has taken place, and all parties are still at the negotiating table.

According to The Wall Street Journal, U.S. lawmakers will introduce a bipartisan bill to prohibit entities regulated by the Commodity Futures Trading Commission (CFTC), including U.S. platforms Kalshi and Polymarket, from listing contracts related to sporting events.

According to Eleanor Terrett, U.S. Republican lawmakers Fitzgerald (Wisconsin), Cline (Virginia), and Democratic lawmaker Lofgren (California) jointly proposed the "Blockchain Innovation Development Act," aimed at clarifying the applicability of Section 1960 of the Criminal Code.The bill explicitly states that Section 1960 applies only to entities that control customer funds, rather than developers who merely write code. Previously, in cases like TornadoCash and SamouraiWallet, regulators had applied this provision to non-custodial software developers, leading to a strong backlash from the crypto industry. This bill will provide legal protection for blockchain developers and address the long-standing conflict between crypto innovation and regulation.

Galaxy Research Director Alex Thorn posted on the X platform that a key hearing in the legislative process for cryptocurrency market structure will take place next week. Republican members of the Senate Agriculture Committee have released a discussion draft of the "Digital Commodities Consumer Protection Act." This bill is expected to be merged with related legislative content completed by the Senate Banking Committee to form a comprehensive "Cryptocurrency Market Structure Act."As the Senate Agriculture Committee is responsible for overseeing the U.S. Commodity Futures Trading Commission (CFTC), this draft primarily focuses on the digital commodities market, with the core content being to grant the CFTC exclusive regulatory authority over the spot cryptocurrency market, including cryptocurrency trading platforms, dealers, and brokers. The committee plans to hold a hearing on the bill's amendments on January 27 (Tuesday), during which bipartisan lawmakers may propose amendments. Although the commodity attributes section (including the CFTC's regulatory authority over the spot market) is generally considered less controversial than the securities attributes section in the cryptocurrency market structure discussions, this discussion draft still carries a noticeable partisan tone. It has not yet received the endorsement of key Democratic negotiators, although many provisions previously negotiated with Democrats have been included. Overall, the legislative text from the Senate Agriculture Committee aligns with market expectations, with its core being the establishment of a regulatory framework for the digital commodities spot market centered around the CFTC. Compared to the related topics being discussed by the Senate Banking Committee, this version has a narrower scope and is relatively less politically sensitive and controversial.

According to crypto journalist Eleanor Terrett, after months of tense negotiations among Senate Republicans, Democrats, and industry stakeholders, a bipartisan text of the 278-page crypto market structure bill has been released. Banks may gain an advantage in this round of stablecoin yield disputes.The latest draft (page 189) stipulates that companies cannot pay interest solely based on users holding a balance. Users can earn rewards, but only if the rewards are associated with activities such as account opening, conducting transactions, staking, providing liquidity, collateralizing assets, or participating in network governance. Senators now have 48 hours to propose amendments to the bill text, so it remains unclear whether these provisions will remain unchanged by Thursday.

Sources reveal that bipartisan senators are gradually accepting the banking industry's lobbying group's request to adjust the stablecoin yield rules in the GENIUS Act.The related adjustment paths include: adopting the proposal put forward by Senator Alsobrooks, which limits yields to the transaction stage (more supported by Democrats); or requiring that only institutions holding a bank charter from the Office of the Comptroller of the Currency (OCC) can offer stablecoin yields, the latter being considered more friendly to certain parts of the crypto industry, but controversial in the DeFi space. Additionally, it is reported that Scott is expected to submit the House version of the CLARITY Act as a placeholder text tonight to initiate the review process next week, with the formal text needing to be submitted by midnight on Monday at the latest. Furthermore, industry insiders involved in communications with Senate staff have indicated that the previous notion of "needing to pray for the bill to pass" was more of a light-hearted joke rather than a pessimistic judgment on the legislative prospects, and the final direction may gradually become clearer in the coming days.

According to Jinshi Data reports, there are market rumors that the White House is considering nominating a group of bipartisan candidates to the U.S. Commodity Futures Trading Commission (CFTC).

Reporter Eleanor Terrett stated that the Senate Agriculture Committee has been working for months to ensure that the CLARITY bill draft has bipartisan support. Although there is still uncertainty as it approaches a critical juncture, such efforts are not common within Congress.She also recalled that last summer, the CLARITY bill provisions pushed by the House Agriculture GOP passed with significant bipartisan support, with 47 votes in favor and 6 against.

Cryptocurrency journalist Eleanor Terrett revealed the latest developments on the "Cryptocurrency Market Structure Act" (CLARITY Act). The U.S. Senate Banking Committee has officially scheduled a review of it for Thursday, January 15, 2026, and committee members and their staff are racing against time to reach bipartisan consensus on outstanding issues.On Tuesday, during a meeting at the office of Banking Committee Chairman Tim Scott, topics such as the ethical standards for public officials related to cryptocurrency, stablecoin yields, bipartisan representation in cryptocurrency regulatory bodies, and several DeFi-specific provisions were the focus of discussion, attended by 13 pro-cryptocurrency senators. It remains unclear how many issues were resolved during the three-hour meeting, but both Republican and Democratic senators expressed optimism that the bill could gain bipartisan support.As senators engage in internal negotiations, the cryptocurrency industry is ramping up lobbying efforts this week to make its voice heard on the remaining unresolved issues. On Thursday, the Digital Chamber will hold a lobbying event on Capitol Hill, with over 40 members heading to the Senate to lobby.The event will start at 10 a.m., featuring speakers including Patrick Harker, Executive Director of the White House Cryptocurrency Council, and Cynthia Lummis, Republican Senator from Wyoming. Representatives from companies such as Unicoin, Anchorage Digital, eToro, Coinflip, Input Output Group, Arca, Bitdeer, Binance.US, Crypto.com, VanEck, Hedera, Mara, and Helium are expected to participate. Additionally, some industry leaders will meet privately with senators this week to discuss unresolved issues related to DeFi and stablecoin yields.

Cryptocurrency journalist Eleanor Terrett revealed the latest developments on the "Crypto Market Structure Act" (CLARITY Act). The U.S. Senate Banking Committee has officially scheduled a review for Thursday, January 15, 2026, and committee members and their staff are racing against time to reach bipartisan consensus on outstanding issues.On Tuesday, during a meeting at the office of Banking Committee Chairman Tim Scott, topics such as the ethical standards for public officials related to cryptocurrency, stablecoin yields, bipartisan representation in cryptocurrency regulatory bodies, and several DeFi-specific provisions became focal points of discussion. Thirteen pro-cryptocurrency senators attended the meeting. It remains unclear how many issues were resolved during the three-hour meeting, but both Republican and Democratic senators expressed optimism that the bill could garner bipartisan support.As senators engage in internal negotiations, the cryptocurrency industry is ramping up lobbying efforts this week to make its voice heard on the remaining unresolved issues. On Thursday, the Digital Chamber will hold a lobbying event on Capitol Hill, with over 40 members heading to the Senate to advocate. The event will start at 10 a.m., featuring speakers such as Patrick Harker, Executive Director of the White House Cryptocurrency Committee, and Wyoming Republican Senator Cynthia Lummis.Representatives participating in the event are expected to come from companies such as Unicoin, Anchorage Digital, eToro, Coinflip, Input Output Group, Arca, Bitdeer, Binance.US, Crypto.com, VanEck, Hedera, Mara, and Helium. Additionally, some industry leaders will meet privately with senators this week to discuss unresolved issues related to DeFi and stablecoin yields.

According to The Block, Congressman Max Miller (R-OH) and Steven Horsford (D-NV) are drafting a cryptocurrency tax bill called the Digital Asset PARITY Act.The bill will provide tax benefits for certain stablecoin transactions and delay taxation on rewards for validating blockchain transactions. The legislation will exempt capital gains tax on stablecoin transactions below $200. As a compromise between the IRS's current guidance and industry demands, taxpayers will have the option to defer taxes on staking and mining rewards for five years, after which they will be taxed as ordinary income at fair market value.The bill will extend wash sale rules (which prevent investors from selling at a loss and immediately repurchasing to claim tax credits) to digital assets and allow traders to use the mark-to-market method for accounting.

According to Decrypt, U.S. Senate Agriculture Committee Chairman John Boozman and Senator Cory Booker have released a bipartisan discussion draft that would grant the Commodity Futures Trading Commission (CFTC) explicit regulatory authority over the trading of digital commodity spot markets.The proposal requires major cryptocurrency spot platforms to register with the CFTC and implement anti-fraud, record-keeping, fund segregation, and dispute resolution measures. Brokers and dealers will follow separate registration rules. The draft explicitly protects the rights to self-custody wallets, allowing individuals to hold and trade digital assets directly through hardware or software wallets.The draft defines digital commodities as "any fungible digital asset that can be exclusively held and transferred person-to-person without the use of an intermediary and recorded on a cryptographically secure public distributed ledger." The bill will take effect 270 days after enactment and includes a transition period. The timeline for Senate passage remains uncertain.

White House cryptocurrency and artificial intelligence director David Sacks said, "Thanks to Senate Agriculture Committee Chairman John Boozman and committee member Cory Booker for the constructive discussion today on cryptocurrency market structure legislation before the Senate Agriculture Committee. I am encouraged by the significant progress made so far and look forward to the introduction of a bipartisan joint proposal in the near future."

ChainCatcher news, according to crypto journalist Eleanor Terrett, multiple sources have revealed that the U.S. Senate Agriculture Committee is set to release its bipartisan joint draft, which pertains to the commodity-related aspects of the cryptocurrency market structure bill, although the specific release time varies among sources.Some say the committee may act as early as tomorrow; others indicate that the final preparations mean the draft's release could be delayed until next week. In any case, this upcoming draft, along with the resumption of bipartisan staff negotiations in the banking committee, suggests that the progress on market structure-related matters has gotten back on track following last week's industry roundtable.

ChainCatcher news reports that, according to market sources, the primary legislative affairs in the crypto industry have encountered more resistance shortly after CEOs from various companies met with senators to salvage bipartisan negotiations.First, law enforcement accused NBA coach Chauncey Billups and others of using cryptocurrency to launder money linked to mafia-related gambling rings. Subsequently, The Wall Street Journal revealed that Trump pardoned Binance founder Changpeng Zhao, noting that "Zhao's company had provided the first major development opportunity for a cryptocurrency business owned by the Trump family." These two developments may provide new "ammunition" for Democrats, who have expressed concerns about illegal finance and conflicts of interest during a closed-door meeting on Wednesday, which Republicans rely on to push their legislation. Senator Ruben Gallego stated, "This pardon highlights further corruption in the Trump administration." North Carolina Republican Senator Thom Tillis remarked, "I would be shocked if [this Congress] makes significant progress in the cryptocurrency space, as it has become a political minefield."