The Clarity Act, a bill aimed at providing regulatory clarity for cryptocurrencies, has cleared the Senate Banking Committee with bipartisan support. The bill now moves to a potential full Senate vote within weeks. If passed, it would establish a federal framework for digital asset regulation, defining whether cryptocurrencies are securities or commodities. Proponents argue it will reduce regulatory uncertainty and encourage innovation, while critics warn it may lack consumer protections. The bipartisan vote signals growing political consensus on crypto regulation, though amendments are expected before the final vote. The bill's progress is closely watched by the crypto industry, as it could shape U.S. crypto policy for years.

Key facts

• Bill passed Senate Banking Committee with bipartisan support.
• Aims to provide regulatory clarity for cryptocurrencies.
• Defines whether digital assets are securities or commodities.
• Expected to face full Senate vote within weeks.
• Could shape U.S. crypto regulatory landscape for years.