The U.S. Senate is set to vote Tuesday on whether to advance the Clarity Act, a landmark cryptocurrency bill that could establish a comprehensive regulatory framework for digital assets. The legislation, strongly backed by the crypto industry, aims to provide greater legal certainty for digital asset companies. However, it remains unclear whether the bill can secure the 60 votes required to move forward as Senate Republicans face a crowded legislative calendar ahead of the 2026 elections.
Senate Republicans released revised legislation on Sunday in an effort to address concerns from the banking sector and some Democrats. The new version strengthens restrictions on public officeholders profiting from their own crypto ventures, giving state attorneys general greater enforcement powers and requiring officials to divest significant crypto-related financial interests or place them in blind trusts. The bill also seeks to address concerns over stablecoins and their potential impact on traditional bank deposits and lending.
The vote is widely viewed as a crucial test for the future of U.S. cryptocurrency regulation, with limited time remaining for lawmakers to revive the legislation if it fails. While crypto companies see passage as a major step toward reducing regulatory uncertainty and encouraging institutional investment, analysts say the market has largely anticipated that the bill will not become law in the near term. Banking groups have also criticized the revised draft, arguing that it does not sufficiently address concerns over stablecoin rewards and their potential effect on banks’ ability to provide credit.
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