Members of the U.S. Senate have referred the CLARITY Act to the committee review stage, placing stablecoin revenue provisions at the heart of an increasing legislative debate on how to regulate digital asset market structures in the United States.

Senate Banking Committee Chairman Tim Scott announced the start of discussions on the Digital Asset Market Structure Bill, indicating that the legislation has cleared a significant procedural hurdle on its way through Congress. The committee’s announcement of the start of discussions marks the bill’s progression to the official review phase, where senators can propose amendments and debate specific provisions before voting on it in the full chamber.

The amendment stage is where legislation undergoes the most detailed scrutiny clause by clause. For the CLARITY Act, this scrutiny will focus heavily on how the bill addresses revenue generated by stablecoin issuers, a question with significant implications for companies operating in this sector.