The U.S. Senate may release a merged draft of the CLARITY Act, a broad bill to regulate crypto market structure, this week. Work to combine versions prepared by the Senate Banking and Agriculture committees is nearing completion, but negotiations continue over key provisions, including ethics rules and the scope of decentralized finance regulation. A floor vote timeline remains uncertain as lawmakers debate which digital asset intermediaries should face registration, surveillance and anti-money laundering obligations.

Prolonged vacancies at the U.S. Commodity Futures Trading Commission are disrupting progress on the CLARITY bill, which would give the agency authority over digital commodity spot markets. The White House and Senate Democrats are blaming each other for delays in filling posts. With only one commissioner in place, concerns are growing over oversight capacity and legal durability of new rules. Lawmakers warn the U.S. could fall behind other countries on digital asset rules.