Senate advances CLARITY Act after key procedural vote

• The US Senate advanced the CLARITY Act after a procedural vote, moving the crypto market structure bill closer to debate.
• The vote keeps the legislation on the Senate calendar as lawmakers negotiate oversight of digital assets.
• Supporters say the bill could clarify whether crypto assets fall under SEC or CFTC regulation.

The US Senate advanced the CLARITY Act after a procedural vote, moving the crypto market structure bill closer to debate and possible passage.

Senator Tim Scott said the vote was an important step in the Senate’s effort to establish a regulatory framework for digital assets.

“Today’s vote is an important step toward delivering the regulatory clarity that innovators, investors and consumers have been asking for,” said Senate Banking Committee Chairman Tim Scott.

The bill would define how many digital assets are regulated and divide oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Lawmakers are still negotiating parts of the legislation, including consumer protections and regulatory authority over crypto markets.

The Senate vote does not make the CLARITY Act law, but it allows the bill to move forward in the legislative process.

The proposal remains one of the most significant US efforts to create a national regulatory framework for cryptocurrency markets.