Insider: Senate Democrats Have Returned to Negotiating Table on the CLARITY Act

**Jan 17 Update** U.S. Democratic senators have returned to negotiations over the crypto market structure bill, holding a conference call with crypto industry representatives on Friday amid strong willingness to advance the proposal. The push comes after a legislative setback this week: the Senate abruptly delayed the bill’s first vote. Participants on Friday’s call said the Senate Agriculture Committee still aims to hold a markup hearing by month’s end, though discussion details were not to be disclosed. Democrats from the two committees tasked with advancing the bill—Banking and Agriculture—joined the call, which came one day after the Senate Banking Committee’s scheduled Thursday hearing. The draft released this week faced significant criticism, with U.S. exchange Coinbase saying it cannot support the version. Senate Banking Committee Chair Tim Scott has not set a new date for his panel’s markup, where lawmakers will debate amendments and could vote to advance the bill to the full Senate. The Agriculture Committee currently has a Jan 27 markup on its schedule, but industry observers have questioned if that date will be delayed. If both committees pass their respective versions—Banking focusing on SEC jurisdiction, Agriculture on CFTC jurisdiction—the bills will merge into a unified measure for a full Senate vote. The legislative window remains open, so long as Senate work is not disrupted by the heated federal spending debate later this month.