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Senate Banking Committee Advances Crypto Market Structure Bill 15-9, With Democratic Support

GateNews
Regulation & Policy

The Senate Banking Committee voted 15-9 on Thursday to advance the Clarity Act, a crypto market structure bill, with support from Democratic senators Ruben Gallego and Angela Alsobrooks. According to TD Cowen analyst Jaret Seiberg, the development slightly increases the bill’s probability of passing into law to 40% from one-in-three, though substantial hurdles remain. However, analysts note the legislation still faces significant obstacles, including the need for substantially more Democratic backing to secure the 60 votes required to overcome a filibuster, and unresolved ethics provisions regarding federal officials and their families engaging in crypto transactions.

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Crypto industry regulatory turning point: the Senate passes the CLARITY Act, ushering in a historic change to asset classification standards

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Blockzeit05-15 00:52
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