Clarity Act Clears Senate Banking Committee, but Passage Remains Uncertain

Odaily Planet Daily reports that the U.S. Senate Banking Committee voted 15-9 to advance the Clarity Act, legislation that would create the first comprehensive federal regulatory framework for the crypto industry. Democratic Senators Ruben Gallego and Angela Alsobrooks backed the measure. Market participants largely view the committee's approval as constructive, but analysts say the bill still faces major hurdles before it can become law. TD Cowen lifted its estimate of the bill's chances of passage from roughly one-third to 40%, citing growing willingness among some Democrats to consider routes to support it, though key policy disputes remain unresolved. The proposal has previously been slowed by debates over stablecoin yield structures, conflicts of interest, and ethics provisions. The bill must also win additional Democratic support to clear the Senate's filibuster threshold. Benchmark analysts said the current vote count does not yet provide a clear path to final passage. (The Block)