US Senate Committee to consider Clarity Act crypto bill next week

The US Senate Banking Committee is scheduled to markup the Clarity Act on May 14, a bipartisan initiative aimed at providing a clear regulatory framework for digital assets. The bill seeks to define jurisdictional boundaries between the SEC and the CFTC, effectively distinguishing between securities and commodities to end current “regulation by enforcement” practices. Additionally, the legislation addresses stablecoin regulation, a point of contention between banks and crypto firms. With bipartisan support from Senators Cynthia Lummis and Thom Tillis, the bill aims to restore US competitiveness in the global crypto market. Analysts suggest that passage could trigger billions in new investment, though the bill still faces a lengthy legislative process beyond the committee markup.

(Source：Crypto Briefing)