The US Senate is preparing to take up long-awaited cryptocurrency legislation next week, marking a potentially pivotal moment for the digital asset industry in the United States.

The Senate Banking Committee, led by Senator Tim Scott, is scheduled to hold an executive session on May 14 in Washington, D.C. to consider the proposed legislation known as the “Clarity Act,”, News.Az reports, citing Reuters

The bill aims to establish a comprehensive regulatory framework for cryptocurrencies, clarifying whether digital tokens should be classified as securities, commodities, or another category. If passed, it could significantly reduce legal uncertainty for crypto firms and accelerate broader…