Latest version of crypto market structure bill raises eyebrows ahead of Senate markup

The recently released text of the Digital Asset Market Clarity Act (CLARITY) in the US Senate Banking Committee is raising some eyebrows among experts before a scheduled Thursday markup for provisions on housing and the lack of ethics language.

On Monday, three Republican lawmakers unveiled the text of the bill lawmakers will use to consider advancing crypto market structure legislation in the banking committee. It followed drafts released in July and September 2025, building upon discussions between crypto and banking industry representatives over stablecoin yield.

Text of CLARITY Act. Source: US Senate Banking Committee

However, the latest version includes provisions seemingly unrelated to crypto market structure. In the last pages of the legislation was a provision on housing called the Build Now Act, which, according to a section-by-section summary of the text, was aimed at creating “a pilot program to incentivize housing development of all kinds in certain Community Development Block Grant participating