Donald Trump · US Senate · CLARITY Act · Democrats · SEC · U.S. · Bitcoin Magazine
Senate Banking Committee Pushes Clarity Act, Two Democrats Break Ranks in 15-9 Vote
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The Senate Banking Committee advanced the Digital Asset Market Clarity Act in a bipartisan 15–9 vote Thursday, with Sens.
Key facts
- The Senate Banking Committee advanced the Digital Asset Market Clarity Act in a bipartisan 15–9 vote Thursday, with Sens
- The Senate Banking Committee advanced the Digital Asset Market Clarity Act on a 15–9 vote Thursday, with Sens
- After a short technical fix to strike two lines, the committee adopted the amendment 18–6, with Warner, Cortez Masto and Alsobrooks joining Republicans
- Van Hollen noted that some of his own properly drafted amendments never reached a vote, even as previously disqualified Lummis text passed 18–6
Summary
The Clarity Act is the Senate’s bid to build a federal framework for digital asset trading, stablecoins and intermediaries, splitting oversight between the SEC and CFTC and setting registration, disclosure and compliance rules for exchanges, brokers and custodians. Chair Tim Scott (R‑S.C.) cast the markup as a turning point after years in which crypto firms operated in what he called a “regulatory gray zone” under “outdated rules.” He said the bill aims to protect consumers, keep innovation in the United States and “close the doors that criminals, terrorists and hostile regimes have tried to exploit,” after months of cross‑party talks that expanded the draft by more than 200 pages.