Huo Xing Finance reports that on May 9, cryptocurrency journalist Eleanor Terrett disclosed that the U.S. Senate Banking Committee has officially scheduled a markup session for the Cryptocurrency Market Structure Act (also known as the CLARITY Act) on Thursday, May 14, at 10:30 a.m. Eastern Time. This is a critical step in the legislative process. The Senate Banking Committee has already distributed draft texts to select industry stakeholders, and the document is still being finalized, with expected input reflecting Democratic office priorities. Committee members will vote on the bill text and all proposed amendments; if approved, this portion will be merged with the content overseen by the Senate Agriculture Committee to form the complete bill, which will then be submitted to the full Senate for a vote. The cryptocurrency industry generally views this as a significant development and looks forward to a clearer regulatory framework to enhance certainty in the U.S. digital assets market.
U.S. Senate Banking Committee to Hold Hearing on the CLARITY Act on May 14
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Summary
On May 9, crypto journalist Eleanor Terrett reported that the U.S. Senate Banking Committee will hold a hearing on May 14 to review the CLARITY Act, a key bill viewed as vital for risk-on assets. The committee has released draft texts and is finalizing the bill, which includes CFT (Countering the Financing of Terrorism) provisions. If passed, it will be merged with the Senate Agriculture Committee’s version for a full Senate vote. The crypto industry is closely monitoring developments, hoping for regulatory clarity to bolster market confidence.
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