That’s when the Senate Banking Committee is scheduled to mark up the CLARITY Act, potentially moving forward the establishment of a formal market structure framework for cryptocurrencies and digital assets in the United States.

Markups are where bills become politically real. Senators negotiate amendments, pressure-test compromises, and determine whether legislation has enough institutional support to survive floor consideration.

For crypto companies, the implications of Thursday’s session could be existential. Executives have long argued that the United States risks losing blockchain innovation to jurisdictions with clearer frameworks,…