The Senate Banking Committee advanced the Digital Asset Market Clarity Act in a bipartisan 15–9 vote Thursday, with Sens. Ruben Gallego and Angela Alsobrooks joining Republicans to move the sweeping crypto market structure bill forward.
The Senate has confirmed Bitcoin-friendly former Fed governor Kevin Warsh as Federal Reserve chair, setting the stage for a potential shift in U.S. monetary policy just one day before lawmakers vote on the crypto market structure Clarity Act.
The Senate crypto bill faces a high-stakes markup this Thursday as lawmakers debate 100+ amendments that could determine the future of U.S. digital asset regulation.
The Blockchain Regulatory Certainty Act (BRCA) is the most important piece of the upcoming CLARITY Act. Without BRCA, Clarity leaves developers open to attack.
Labor unions and major banks are now aligned against the Senate’s CLARITY Act, warning the crypto market structure bill could put retirement savings, bank deposits, and financial stability at risk ahead of Thursday’s pivotal committee vote.
The Senate Banking Committee released the full 309-page text of the Digital Asset Market Clarity Act ahead of Thursday’s markup, setting up a high-stakes battle over stablecoin yield rules.
American Bankers Association CEO Rob Nichols urged bank leaders to lobby against a stablecoin yield provision in the Digital Asset Market Clarity Act ahead of Thursday’s Senate markup.
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