Senate Advances CLARITY Act, Paving Way for Crypto Regulatory Framework Vote

Senate Majority Leader John Thune has moved to advance the CLARITY Act, setting up a key procedural vote for the crypto regulatory framework bill in September.

The move could pave the way for a full floor vote on the bill, which would give cryptocurrency its first federal rulebook and define when tokens count as securities or commodities.

The bill still needs 60 votes to pass, meaning all voting Republicans plus at least seven Democrats must support it. This is a challenge, given that many Democrats oppose the bill.

Passage of the CLARITY Act would mark a major win for President Donald Trump and the crypto industry, which has seen significant investment in recent years.