- House Financial Services Committee schedules CLARITY Act markup for Tuesday, June 10.
- CLARITY Act shifts crypto oversight to CFTC, classifies mature blockchains as commodities.
- Democrats are requesting “Minority Day Hearings” to challenge the bill, creating delays.
Capitol Hill prepares for a major week in cryptocurrency policy development, with multiple high-profile events scheduled that affect the regulatory sector. The House Financial Services Committee has officially confirmed a markup session for the CLARITY Act on Tuesday, June 10 at 10:00 AM EST, alongside several other legislative measures under consideration.
The timing coincides with increased congressional focus on digital asset regulation following recent changes in federal policy direction. Monday will feature the SEC’s final industry roundtable on decentralized finance, while Tuesday combines the CLARITY Act markup with a nomination hearing for Brian Quintenz.
Regulatory Power Shift Proposed Under CLARITY Act
The CLARITY Act represents a shift in how cryptocurrencies are regulated at the federal level. The proposed legislation seeks to transfer primary oversight responsibilities from the Securities and Exchange Commission to the Commodity Futures Trading Commission. This is a move that industry advocates argue would provide clearer regulatory frameworks for digital assets.
Under the bill’s provisions, mature blockchain networks, including Bitcoin and Ethereum, would receive classification as commodities rather than securities. This distinction carries major implications for how these assets can be traded, marketed, and integrated into traditional financial systems.
Political Pushback and Potential Delays
However, the legislative path forward faces potential obstacles as Democratic members have requested “Minority Day Hearings” to examine the bill more thoroughly. These additional hearings could extend the timeline for final passage while allowing opposition voices to raise concerns about the proposed regulatory changes.
The week’s events occur against the backdrop of shifting federal priorities regarding cryptocurrency policy. The goal of making the US a leader in crypto innovation has been shown by recent presidential initiatives.
Congressional Support Remains Uncertain
The CLARITY Act markup is seen by industry watchers as a gauge of Congress’s willingness to reorganize crypto regulations. Success in committee could pave the way for broader legislative action. However, significant opposition may lead to continued regulatory uncertainty.
Related: BRCA & CLARITY Acts: Why These Top 8 Crypto Groups Want The Two Bills Merged
The outcome of Tuesday’s markup session will likely influence the direction of future crypto legislation and signal whether bipartisan support exists for fundamental changes to digital asset oversight. Stakeholders across the industry are closely monitoring developments as Capitol Hill addresses one of the most contentious regulatory questions facing the cryptocurrency sector.
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