# The Republican-led Senate Banking Committee on Thursday advanced a long-awaited cryptocurrency regulation bill.

*web3 · news · 2026-05-15 · The Economic Times*

## Key points

- The CLARITY Act advances to the full Senate after passing the Banking Committee with bipartisan support.
- The act places digital commodities under CFTC and digital securities under SEC jurisdiction, clarifying oversight.
- The bill sets clear criteria to determine if crypto platforms are sufficiently decentralised or must act as financial institutions.
- President Trump openly backs the CLARITY Act, prioritising crypto reform in his second term.
- Crypto industry lobbying for the bill exceeded $119 million during the 2024 US elections.

**Companies:** ZebPay, WazirX
**Countries:** United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/cryptocurrency/explained-what-is-us-senates-clarity-act-and-why-does-it-matter-for-crypto-investors/articleshow/131111787.cms)

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