The US Securities and Exchange Commission (SEC) commissioner has announced that the market structure bill, known as the Digital Asset Market Clarity Act (CLARITY Act), is expected to pass soon. The bill, which aims to redefine regulatory oversight of digital assets, has already passed the House and is on the Senate Legislative Calendar. If enacted, it would transfer most digital assets from SEC to Commodity Futures Trading Commission (CFTC) jurisdiction, leaving the SEC with oversight of “investment contract assets.” The announcement comes amid the Administration’s push to have the legislation enacted by July 4, 2026, although bipartisan negotiations and a 60-vote requirement in the Senate remain as hurdles.

Key Takeaways

• The announcement from the SEC commissioner suggests the CLARITY Act could soon become law, impacting digital asset regulation.
• Market pricing suggests that the passage of this bill could influence expectations for a Federal Reserve interest rate hike in 2026.
• The bill’s potential enactment appears consistent with scenarios where digital assets see a shift in regulatory oversight to the CFTC.

What to Watch

Watch for developments in the Senate regarding the CLARITY Act, as any progress towards its passage could influence market expectations. Key figures such as Jerome H. Powell and other Federal Reserve board members may provide insights into how this legislative change could impact monetary policy. The market’s response to any official announcements or changes in the legislative calendar will indicate how participants perceive the likelihood of a Fed rate hike in 2026.

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