U.S. Senate Advances Crypto Market Structure Bill as OCC Greenlights Bank Crypto Transactions

The bipartisan CLARITY Act, a landmark crypto market structure bill championed by the White House, is set for Senate markup in January following confirmations from key committee chairs. Senate Banking Committee Chair Tim Scott and Agriculture Committee Chair John Boozman have endorsed the legislation, which aligns with former President Trump's calls for regulatory clarity. White House AI and crypto czar David Sacks hailed the development as a critical step toward establishing a federal framework for digital assets.

Meanwhile, the Office of the Comptroller of the Currency has authorized traditional banks to conduct riskless principal transactions involving crypto assets. This policy reversal marks a significant shift from the OCC's cautious stance between 2021-2024, when it imposed strict guardrails on bank crypto activities. The dual developments signal growing institutional acceptance of digital assets at both legislative and financial infrastructure levels.