🗣 The CLARITY Act, a bipartisan cryptocurrency market bill, has gained momentum after a Senate committee vote (15 in favor, 9 against). However, Grayscale points out that the bill still faces several hurdles. It must be consolidated with another Senate bill and reconciled with the House version before it can proceed.
🔔 On May 15, Grayscale Investments shared insights on the future of the CLARITY Act following its approval by the Senate Banking Committee. Two Democrats joined Republicans in supporting the bill, ensuring bipartisan backing for the more challenging full Senate review.
The CLARITY Act has overcome a key hurdle in the Senate Banking Committee thanks to a bipartisan vote,
said Zak Pandl, Grayscale's head of research.
🔗 The next step involves consolidation. The CLARITY Act must be merged with the Digital Commodities Intermediary Act (DCIA), which passed through the Senate Agriculture Committee on a party-line vote (12-11) on January 29. This combined Senate package also needs to align with the House's version of the CLARITY Act passed last July.