The Digital Asset Market CLARITY Act is approaching markups: the Senate Banking Committee released an amended draft and fact sheets ahead of a January 15 markup, and the Agriculture Committee scheduled a late‑January markup. The bill would allocate oversight between the SEC and CFTC by defining which digital assets are securities versus commodities, strengthen disclosure and anti‑fraud rules, impose AML/CFT and sanctions compliance obligations and expanded Treasury authority on centralized intermediaries, and explicitly protect software developers and self‑custody. It also creates a joint SEC‑CFTC advisory committee to harmonize rules and supporters frame the bill as focused on consumer protection, national security and onshoring activity.

Fact: committees released an amended draft and fact sheets and set markups (Banking Jan. 15, Agriculture late‑Jan). Fact: bill divides oversight between SEC and CFTC, strengthens disclosure/anti‑fraud protections, imposes AML/CFT and sanctions compliance and enhanced Treasury authority on centralized intermediaries, and protects software developers and self‑custody while creating a joint SEC‑CFTC advisory committee. These concrete regulatory changes increase legal clarity (bullish) while adding compliance burdens (bearish), so net mildly positive.