The CLARITY Act finally cleared the Senate Banking Committee in a 15-9 vote on Thursday, representing “crypto’s largest political win since the GENIUS Act became law last summer,” according to Benchmark Managing Director Mark Palmer. It will now head to the full Senate.

Patrick Witt, executive director of the president’s Council of Advisors for Digital Assets, said last week that the administration was targeting a July 4 passage.

“One small step for the Clarity Act and one giant leap for digital assets,” Senator Cynthia Lummis, who has championed the regulation, said in a statement.

Bitcoin rose to $82,000 while Circle, the stablecoin giant, jumped after the vote, but neither could hold those gains long.

Richard Green, director…