The Republican-led Senate Banking Committee on Thursday advanced the long-awaited Clarity Act, marking one of the most significant congressional steps yet toward establishing a formal regulatory framework for digital assets in the United States. 

The legislation passed out of committee with support from all Republican members alongside Democratic Senators Ruben Gallego and Angela Alsobrooks, giving the crypto industry a major political victory after years of lobbying and regulatory uncertainty. 

The bill now heads to the full Senate, where lawmakers are expected to face intense debate over consumer protections, anti-money laundering rules, and the growing influence of cryptocurrency firms in Washington.

The Clarity Act…