The CLARITY Act has recently been a hot topic of discussion, but many people are still confused about its regulatory framework—Which Senate committee is leading the effort? Why does the CFTC have to be under the Agriculture Committee? What is the logic behind this regulatory division of labor? How will legislation proceed moving forward? These questions are indeed worth clarifying. Starting with the regulatory division of labor in the Senate, which major committees oversee what, and who is the main player in this round of cryptocurrency policy? Once the framework is clear, everything else becomes much easier to understand.