Senate panel approves Clarity Act, first major cryptocurrency regulation bill
By
Emily Wilkins
4d ago· 2 min readenNews
80/100
Golden Brown
Bagelometer↗
The bagel they save for the regulars. Don't skim, savour.
Score80TypenewsSentimentpositive
Summary
The Senate Banking Committee approved the Clarity Act, a landmark cryptocurrency regulation bill, by a 15-9 vote largely along party lines. Two Democratic senators joined all Republicans in supporting the measure. The bill still faces significant hurdles before becoming law, needing approval from the full Senate, the House, and the President.
Key quotes
· 3 pulledThe cryptocurrency industry notched a key win after a Senate panel on Thursday approved the Clarity Act, the first wide-ranging piece of legislation pertaining to the new industry.
The Senate banking committee largely voted along party lines, 15-9, with Democratic Sens. Ruben Gallego, of Arizona, and Angela Alsobrooks, of Maryland, joining all Republicans on the panel to vote for the bill.
The measure has a long way to go before becoming law, given both powerful opposition and the fact that it would need to clear the full Senate as well as the House before heading to President Donald Trump's desk.
The Senate Banking Committee advanced a rules-of-the-road crypto bill known as the Clarity Act by a vote of 15-9.
