Senate Banking Chair Tim Scott tells reporters that he hopes to release a discussion draft of the Senate's version of CLARITY *next week*. "We'll take that home for August, fight over it, make it better ... and then have a markup in September."

Scott says the House this week "wanted to make sure that we were open to the CLARITY Act, No. 1, and No. 2, some changes that they had sought in GENIUS that they were going to embed into the CLARITY Act, they wanted to make sure that we were willing to take that up." "I certainly am willing to put that on the table at the Senate Banking Committee. ... The foundation of our market structure conversation starts at the CLARITY Act and will embed some of the concerns that they had from not being able to amend GENIUS."

Notably, Scott didn't make any hard commitments to what will pass out of the Senate on crypto market structure. "We're certainly open to it. I can't speak to the specificity because I haven't seen it yet. I look forward to it."

As for a CBDC ban in NDAA? Not looking too hot. "It's not bipartisan in a way that both GENIUS and CLARITY are," Scott said. "I support the notion, but it's not widely supported, and frankly, not supported very well at all, on the Senate Democrat side."