US Senate Banking Committee votes to advance CLARITY Act

Lawmakers debated amendments on ethics and other issues for a digital asset market structure bill before advancing the legislation, setting up a Senate floor vote.

US lawmakers in the Senate Banking Committee held a markup for a long-awaited crypto market structure bill, marking a pivotal step toward Congress’ effort to establish regulatory clarity for digital asset companies and markets.

In a Thursday session of the US Senate Banking Committee, all 13 Republican members and two Democrats voted to advance the Digital Asset Market Clarity Act (CLARITY), with nine Democrats also voting no on the bill.

Senators Ruben Gallego and Angela Alsobrooks sided with Republicans to vote yay. The vote came after lawmakers proposed more than 100 amendments to the crypto bill, ranging from provisions on stablecoin yield to ethics restrictions.

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