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Crypto

Progress on U.S. CLARITY Act but 60 votes in full Senate uncertain

The U.S. Senate Banking Committee approved the CLARITY crypto market structure bill by 15 to 9, with two Democrats joining Republicans. Support in the full Senate remains uncertain as those Democrats set conditions tied to ethics language. U.S. banking groups also urged changes to stablecoin provisions, warning of regulatory loopholes. The bill must be reconciled with another Senate version and needs at least 60 votes in the full chamber.

Crypto

U.S. Senate panel seeks removal of developer protection clause from crypto bill

The U.S. Senate Judiciary Committee has called for a developer protection provision to be deleted from a crypto market structure bill, Cointelegraph reported on Jan. 19. Republican and Democratic leaders said the clause could encourage illegal money laundering and sent objections to the Senate Banking and Agriculture committees. The draft would exempt crypto software developers from federal and state money transfer laws. The Senate Banking Committee has delayed a meeting, and the bill would need at least 60 votes to reach the floor.