CLARITY Act advances Senate Banking Committee on split partisan vote

The United States Senate Committee on Banking, Housing, and Urban Affairs today voted 15-9 in a markup session to progress the Digital Asset Market Clarity Act (the CLARITY Act), teeing up the landmark market structure legislation for a potential vote before the full Senate in the coming months.

Following months of negotiations, the CLARITY Act’s successful passage through the Senate Banking Committee is a critical step that boosts hopes for the US to finalize a comprehensive regulatory framework for cryptoasset market participants.

The Committee’s vote, however, was split largely along…