US Senate Banking Committee Sets Markup Date for CLARITY Act

The US Senate Banking Committee has announced a markup date of May 14 for the CLARITY Act, a bill designed to provide greater regulatory clarity for the crypto industry.

Initially expected to progress earlier this year, the bill's development was halted after Coinbase withdrew its support due to concerns about legal protections and regulations. Industry experts had predicted that the legislation would require bipartisan support to pass in the Senate, with at least 60 votes necessary.