Bitcoin rips as CLARITY Act clears major Senate Committee hurdle, advances to the full Senate floor
Bitcoin prices rose above $81,000 as the Senate Banking Committee advanced the CLARITY Act, a landmark digital asset regulation bill.Summary
Bitcoin surged past $81,000 following the Senate Banking Committee’s bipartisan approval of the Digital Asset Market CLARITY Act. The legislation aims to establish a clear federal framework by delineating jurisdictional authority between the CFTC and the SEC. To secure passage, lawmakers compromised on stablecoin rewards, banning passive yield while allowing activity-based transaction rewards. Despite opposition from figures like Senator Elizabeth Warren, industry leaders like Brian Armstrong advocate for the bill's role in American financial innovation. The act now faces a tight legislative timeline, requiring a supermajority on the Senate floor and reconciliation with House bill H.R. 3633 before it can reach the President's desk.
(Source：CryptoSlate)