The U.S. Senate Banking Committee has introduced a discussion draft of the "CLARITY Act," proposing the concept of "ancillary assets."

On July 27, the U.S. Senate Banking Committee released a discussion draft of the CLARITY Act (Market Structure Act), proposing the concept of "ancillary assets" to clarify the specific meaning of digital assets and seeking to define how the SEC should regulate digital assets, inviting public comments on the draft before early August. Last week, the House voted to pass the CLARITY Act, which is still pending Senate approval and submission for Trump’s signature. The White House's crypto director stated last week that Trump will continue to support the passage of the CLARITY Act to fulfill his campaign promises in the crypto space. This week, the Senate Banking Committee clarified its direction: focusing on the SEC's role in regulating the crypto market. Rashan Colbert, the U.S. Policy Director for the Crypto Council for Innovation, noted that the Senate's approach to advancing legislation may differ from the House's process in passing the CLARITY Act, but he expects the Agriculture Committee and Banking Committee to ultimately coordinate on handling market structure legislation. Regardless of which bill passes, since the Senate requires 60 votes to pass legislation, the opinions of Democrats are crucial.