The Senate Banking Committee advanced a landmark digital asset market structure bill, known as the Clarity Act, on Thursday. The measure passed with a vote of 15-9, signaling fresh momentum for the long-stalled framework aimed at regulating the cryptocurrency industry.
The bill's progress follows months of negotiations and furious lobbying campaigns from both sides. Firms, following a series of political victories under President Trump, have lobbied Congress for a sweeping framework they helped shape.
While the banking committee reached a deal on stablecoin yield, ethics conflicts remain as the marquee legislation moves forward.