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The "Clarity Act" has been postponed by one week, with the Senate Agriculture Committee planning to release the text on January 21 and hold a key hearing on January 27
BlockBeats News, January 14th, the Senate Agriculture Committee plans to release the text of its proposed cryptocurrency market structure bill (the "Clarity Act") on January 21st and hold a key hearing on the text on January 27th.
The committee announced on Tuesday that the hearing will start at 3 p.m. (originally scheduled for January 15th, announced to be postponed on Monday). The hearing is a key step in advancing the legislation, where lawmakers will debate amendments, vote on whether to include them in the base text, and then vote on whether to advance the full bill to the full Senate.
The Senate Banking Committee plans to mark up its version of the bill this Thursday. While the Banking Committee's draft was released close to midnight on Monday, lawmakers are expected to submit amendments before the hearing.
The Agriculture Committee has not released formal text since the release of the initial discussion draft. Unresolved issues include ethical provisions (involving former President Trump and his family's ties to various crypto businesses) and quorum rules — requiring bipartisan leadership of regulatory agencies such as the SEC and CFTC (currently both agencies have only Republican commissioners).
According to two sources closely following the bill, the Banking Committee's text also does not address ethical provisions or quorum, so the current version may not garner bipartisan support.
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