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Clarity Act, a significant US crypto market structure bill, advanced out of the Senate Banking Committee with bipartisan support.
The Clarity Act advanced out of the Senate Banking Committee with a 15 to 9 bipartisan vote.
KEY POINTS
- The bill assigns digital commodities oversight to the CFTC and digital securities oversight to the SEC.
- An unresolved ethics provision on lawmakers trading crypto remains a major hurdle before a Senate floor vote.
- White House officials oppose ethics rules specifically targeting the president, complicating final bill negotiations.
- Securing 60 votes in the Senate and reconciling committee differences are required before presidential approval.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →