US Senate committee advances crypto bill in milestone for digital assets
Two Democrats joined Republicans in a 15-9 vote after lawmakers compromised on stablecoin language and moved the bill toward a full Senate vote.
- On Thursday, the Senate Banking Committee began marking up the Digital Asset Market Clarity Act, a landmark step to establish federal cryptocurrency regulations and clarify jurisdiction between regulators.
- Years of industry lobbying, including more than $119 million in 2024 campaign spending, pushed this legislation forward to define whether digital tokens constitute securities or commodities.
- Lawmakers reached a compromise on stablecoin yield provisions, though banking groups sent some 8,000 letters to Senators urging tighter language on the measure.
- Ranking member Elizabeth Warren and other Democrats oppose the measure, warning it "puts investors, our national security and our entire financial system at risk" due to weak anti-money laundering rules.
- Passage requires at least seven Democratic votes in the full Senate, a difficult threshold that remains uncertain, and the bill faces reconciliation with the House of Representatives before reaching the president's desk.
73 Articles
73 Articles
US Senate committee advances crypto bill in milestone for digital assets
The Republican-led Senate Banking Committee on Thursday advanced long-awaited legislation that would create regulations for cryptocurrencies — a landmark step for the bill which has been bogged down by a dispute between crypto companies and banks. The post US Senate committee advances crypto bill in milestone for digital assets appeared first on Hawaii Tribune-Herald.
CLARITY Act Clears Senate Banking Committee in Bipartisan 15-9 Vote
The U.S. Senate Banking Committee advanced the Digital Asset Market CLARITY Act Thursday in a 15-9 bipartisan vote, the biggest step forward yet for the market structure bill that would divide digital-asset oversight between the SEC and the CFTC. The outcome was in doubt for much of the session. Democrats and Republicans traded barbs over ethics provisions, stablecoin yield rules, and the Trump family’s crypto ties. But Chairman Tim Scott (R-SC)…
Senate Banking approves crypto market structure bill
The Senate Banking Committee voted Thursday to approve, mostly along party lines, legislation that would set the rules for the operation and oversight of digital asset markets, advancing a landmark bill the panel has been working on since last summer. Months of negotiations between Republicans and Democrats resulted in only two Democrats — Sens. Ruben Gallego of Arizona and Angela Alsobrooks of Maryland — joining all Republicans in a 15-9 vote. …
XRP, DOGE surge 5%, bitcoin above $81,000 as CLARITY Act clears Senate banking panel
Crypto majors bid higher Friday after the Digital Asset Market Clarity Act cleared the Senate Banking Committee in a 15-9 bipartisan vote, with XRP and dogecoin leading the cohort even as broader risk assets sold off on Trump's comments that the US does not need to reopen the Strait of Hormuz.
Coverage Details
Bias Distribution
- 76% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
