US Senate · Donald Trump · Cynthia Lummis · CLARITY Act · US Congress · Republicans · Cointelegraph
US Senate Banking Committee votes to further CLARITY Act
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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.
Key facts
- 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
- With the advancement of CLARITY in the banking and agriculture committees to address laws and regulations in the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission
- Senators Ruben Gallego and Angela Alsobrooks sided with Republicans to vote yay
- Republican Senator Bernie Moreno and Scott defended the president, accusing Van Hollen of “ad hominem” attacks
Summary
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. In opening statements before the vote, committee chair Tim Scott said that the bill was focused on protecting consumers, keeping innovation in the US, and safeguarding national security in regards to digital assets.