Topline
The Senate Banking Committee advanced the crypto industry’s top legislative priority after nearly a year of gridlock and months of negotiations, sending crypto-exposed stocks rallying on the news, with Coinbase up roughly 9%, Strategy up 8% and Robinhood and Galaxy Digital both up 6%.
(Photo by Justin TALLIS / AFP via Getty Images)
AFP via Getty Images
Key Facts
The vote fell largely along party lines, with Arizona Democrat Ruben Gallego the lone member of his party crossing over to join all Republicans in support.
The bill’s core function is to settle a years-long turf war between two federal agencies—the Securities and Exchange Commission, which regulates stocks, and the Commodity Futures Trading Commission, which regulates…
