Odaily Planet Daily report: The U.S. Senate Banking Committee has advanced the Clarity Act, a bill aimed at establishing the first comprehensive regulatory framework for the crypto industry at the federal level, with a vote of 15 in favor and 9 opposed. The bill has received support from Democratic Senators Ruben Gallego and Angela Alsobrooks.
Although the industry generally views the committee's approval as a positive step, analysts believe the bill still faces significant obstacles before becoming law. TD Cowen raised the probability of the bill's passage from about one-third to 40%, noting that some Democratic lawmakers are now willing to explore paths to support it, but substantive disagreements have not yet been fully resolved.
Previously, the bill was long hindered by issues such as stablecoin yield arrangements, conflicts of interest, and ethical provisions. Additionally, to overcome filibuster obstacles in the Senate, the bill still requires more Democratic support than it currently has. Benchmark analysts also noted that the current number of supporting votes is insufficient to guarantee its eventual passage. (The Block)