The "CLARITY Act" will be submitted to the Senate for debate and amendment in January, followed by a full vote.

BlockBeats News, December 19, David Sacks, the White House head of cryptocurrency and artificial intelligence, stated that the "CLARITY Act" (Crypto Market Structure Bill) will be submitted to the Senate for debate and amendment next month, followed by a full vote. Senate Banking Committee Chairman Tim Scott and Agriculture Committee Chairman John Boozman have confirmed that the bipartisan draft of the "CLARITY Act" will be reviewed by the Senate next month.

The "CLARITY Act" will define crypto securities and commodities, and clarify the responsibilities of the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and other financial regulatory agencies.