US crypto firms and advocacy groups are intensifying lobbying efforts to secure a Senate vote on the Digital Asset Market CLARITY Act before the August recess. The bill aims to establish a federal framework for digital assets, dividing oversight between the SEC and CFTC, but faces hurdles over anti-money laundering provisions and ethics concerns.
US Congress is nearing a federal rulebook for digital assets, potentially boosting crypto tokens linked to high-revenue applications. Legislation like the CLARITY Act could attract traditional finance firms, favoring tokens from trading, lending, and financial services platforms that currently trade at low revenue multiples.
Despite the Senate Banking Committee advancing the Digital Asset Market Clarity Act (CLARITY Act) on May 14, spot Bitcoin ETFs experienced significant outflows totaling $648.6 million on May 18. This indicates that while policy clarity is improving, investor demand remains conditional on broader market factors like inflation and yields, rather than solely on legislative progress.
The Senate Banking Committee advanced the Digital Asset Market Clarity Act, signaling a move towards a defined regulatory framework for digital assets. Despite ongoing disputes, the vote is seen as a positive step for consumer confidence and market clarity.
The Senate Banking Committee approved the Digital Asset Market CLARITY Act, a comprehensive crypto regulation bill, sending it to the full Senate. The bill divides jurisdiction between the CFTC and SEC, and despite challenges, aims for passage by July 4, 2026.
US banks are mounting an aggressive lobbying effort to stall the CLARITY Act, even as key US lawmakers signal a fast-tracked timeline to put the bill on the president’s desk before July 4. The legislative clash centers on the Digital Asset Market Clarity Act, a sweeping regulatory framework that cleared the House with bipartisan support […] The post Banking lobby attempts to kill Clarity Act’s stablecoin progress as markup is scheduled for next week appeared first on CryptoSlate.
