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Clarity Act Passes Senate Banking Committee Markup

The Clarity Act is on its way to the Senate floor after bing passed in the Senate Banking Committee hearing on Thursday.

U.S. is likely to receive digital asset market law this summer (Georgie Devlin / Unsplash)

U.S. is likely to receive digital asset market law this summer (Georgie Devlin / Unsplash)

The U.S. Clarity Act advances from markup.

The Senate Banking Committee has officially passed the Clarity Act during its markup process. Total vote count stood at 15 for and 9 against, meaning it is progressing to the next stage at the Senate.

Right now, the bill needs to be merged with the part of the Clarity Act approved by the Senate Agriculture Committee back in January, and then it can be voted on by all Senators properly on the Senate floor.

Afterwards, if all the required votes are received, there is an expectation that the Senate version of the Clarity Act still has to be reviewed against and compromised with the House version supported last summer.

The U.S. shall have new rules and regulations for the growing digital asset market upon it being signed into law by the President.

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