Donald Trump · CLARITY Act · US Senate · CoinDesk
Crypto market structure bill clears key hurdle as ethics debate looms over floor vote
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Latest developments: Senate Banking advanced the crypto market structure bill Thursday in what industry advocates described as a landmark moment for digital asset legislation.
Key facts
- What comes next: Senate negotiators now need to merge Banking Committee and Agriculture Committee versions of the legislation before a final floor vote
- Latest developments: Senate Banking advanced the crypto market structure bill Thursday in what industry advocates described as a landmark moment for digital asset legislation
- Reading Crypto advocates believe they could secure broader Democratic support than many expected
- Bipartisan support could improve the bill’s odds of reaching the Senate floor quickly and surviving broader negotiations
Summary
Blockchain Association Chief Policy Officer Lindsay Fraser said on CoinDesk's The Policy Protocol, that this was the first time a market structure bill had passed out of the Senate Banking Committee and moved toward a floor vote. The committee adopted seven amendments to the base text, including five last-minute bipartisan amendments negotiated during the markup session. Ruben Gallego and Angela Alsobrooks joined Republicans in voting for the bill, giving the legislation bipartisan backing after uncertainty earlier in the day over whether Democrats would support it. Bipartisan support could improve the bill’s odds of reaching the Senate floor quickly and surviving broader negotiations.