🗳️ Clarity Act Clears Key Senate Hurdle, Ethics Debate Ahead

The crypto market structure bill passed the Senate Banking Committee with bipartisan support, setting up a potential floor vote within weeks.

✅ Bipartisan Breakthrough

➡️ Passed 15-9 after adopting 7 amendments, including 5 last-minute bipartisan changes

➡️ Sens. Ruben Gallego and Angela Alsobrooks joined Republicans, giving the bill cross-party backing

➡️ Blockchain Association’s Lindsay Fraser called it the first time a market structure bill has cleared Senate Banking.

💡 Why It Matters

➡️ Bipartisan support boosts chances of a quick floor vote and stronger negotiating position.

➡️ Industry now focuses on preserving wins on staking rewards, tokenization, and developer protections.

➡️ Banks and TradFi firms are expected to ramp up lobbying for further changes.

⚠️ What’s Still Blocking It

➡️ Ethics provisions remain the biggest sticking point

➡️ Gallego and Alsobrooks said their committee votes don’t guarantee floor support without stronger ethics language

➡️ Developer protections are also under negotiation to win more Dem votes

📅 What’s Next

➡️ Negotiators must merge the Banking and Agriculture Committee versions before a floor vote.

➡️ The combined package could hit the Senate floor in ∼1 month.Trump wants the bill on his desk by July 4 — a timeline Fraser says is still achievable.

➡️ Fraser believes the bill could get 7+ Dem votes, pointing to last year’s CRA vote where 19 Dems backed crypto.

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