Senate advances Clarity Act with bipartisan support
The US Senate Banking Committee has advanced the Clarity Act, a bill aimed at providing a regulatory framework for digital assets.
The bill is now poised to move to the Senate floor for a full vote.
A key provision, the Blockchain Regulatory Certainty Act, is under threat and its removal could push developers offshore.
The provision protects software developers who do not take custody or control of users’ money from being classified as money transmitters.