Legislation passes Senate committee with bipartisan support
The US CLARITY Act has moved forward after a Senate committee voted to advance the bill. The legislation received support from all 13 Republican members and two Democrats, with nine Democrats voting against it.
The bill’s passage is seen as a significant development for the crypto industry, with potential implications for global markets. The legislation’s progress is being closely watched, with some viewing it as a signal for other jurisdictions around the world.
The bill still needs to clear the full Senate and become law, which will require bipartisan support. Republicans currently hold 53 seats, meaning at least seven Democrats would need to support the bill for it to pass.