- The Senate Banking Committee passed the Clarity Act for crypto and DeFi market infrastructure with a 15 to 9 vote.
- Republican support was unanimous, joined by Democratic Senators Angela Alsobrooks and Ruben Gallego, while Democratic amendments were rejected.
- Senator Angela Alsobrooks emphasized her vote was to continue negotiations, not a guarantee of final support, citing unresolved ethics and law enforcement concerns.
The Senate Banking Committee advanced landmark crypto legislation on Wednesday, moving the long-awaited Clarity Act forward after a contentious markup session. The bill, which establishes a regulatory framework for digital asset market infrastructure, passed the committee with a vote of 15 to 9.
All Republican members voted in favor, joined by Democratic Senators Ruben Gallego and Angela Alsobrooks. However, all amendments proposed by Democratic committee members during the session were rejected. Consequently, a series of negotiated changes from Republican Senator Cynthia Lummis passed with broader bipartisan support, receiving 18 or 19 votes each with backing from Democrats including Senators Catherine Cortez Masto, Mark Warner, and Raphael Warnock.
Several Democrats who supported the bill or the Lummis amendments expressed a desire to see legislative progress but withheld final commitment. Senator Alsobrooks, who spoke about her daughter’s interest in crypto, stated, “I want to be abundantly clear, my vote today is a vote to keep working in good faith. It does not mean I’ll be voting for the passage of the Clarity Act on the floor, because we have so much work to do.” She specifically highlighted the need for ethics clauses and noted lingering concerns from law enforcement officials.
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