Most industries already know this. The digital asset sector, however, could be about to find out. On Thursday (May 14), the crypto industry’s long-standing regulatory gray areas all changed, at least procedurally. The Senate Banking Committee advanced the long-debated CLARITY Act in a 15–9 vote, marking the most significant congressional movement yet toward establishing a comprehensive federal framework for digital assets.

Two Democrats, Sens. Ruben Gallego of Arizona and Angela Alsobrooks of Maryland, joined Republicans to move the bill forward, giving the crypto industry its clearest signal yet that a bipartisan path to a clear…