The Senate Banking Committee voted 15-9 to advance the CRYPTO Clarity Act out of markup, sending the bill to the full Senate floor where it will need 60 votes to clear a filibuster. The legislation aims to establish a formal regulatory framework for digital assets in the U.S., covering consumer protections, anti-money laundering requirements, and law enforcement tools to combat illicit activity.
Proponents argue the bill closes a regulatory gray area that has pushed crypto innovation offshore and left American retail participants exposed to fraud. A notable provision would allow banks to engage directly in digital asset activities — a structural shift that drew both support and concern during debate.
Senator Elizabeth Warren led the opposition, arguing the bill tilts too far in favor of the crypto industry, could erode existing securities-law protections, and risks weakening…
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