Overview

• The House passed the Digital Asset Market CLARITY Act by a 308–122 vote and folded anti‑CBDC provisions into the package before sending it to the Senate.
• Senators are drafting a broader market‑structure bill, with a publicly released 182‑page Republican discussion draft, that must clear the Banking and Agriculture Committees and secure 60 votes on the floor.
• Timing remains uncertain as lawmakers prioritize federal spending negotiations, with senators cautioning that committee work and any floor action could slip.
• A White House crypto adviser said the administration expects a Senate product crafted with House input and prefers the House to approve that version as written once it clears the Senate.
• Separate from legislation, the SEC’s Unified Agenda outlines forthcoming proposals on exchange‑trading rules, digital‑asset custody, and offers and sales, with any final framework requiring multi‑agency rulemaking likely extending into 2026 or later.