Clarity Act Advances in Senate Banking Committee on 15-9 Bipartisan Vote

The U.S. Senate Banking Committee voted 15-9 on Thursday to advance the Clarity Act, a milestone for crypto market-structure legislation that has been in the works since last year. The committee action lifted sentiment across digital-asset markets. Ripple's XRP climbed more than 6% following the vote, fueling expectations of renewed strength in alternative cryptocurrencies. Democratic Sens. Ruben Gallego and Angela Alsobrooks supported the bill during the markup but cautioned that continued backing will hinge on resolving outstanding ethics and financial-crime provisions. The legislation is expected to move to a full Senate vote in the coming weeks. If fully adopted and implemented, proponents say the bill would accelerate the integration of crypto into traditional financial markets. Critics, including Sen. Elizabeth Warren, have raised concerns and continue to push back against the measure. Industry leaders welcomed the committee vote. Coinbase co-founder and CEO Brian Armstrong called the outcome a "historic day" for digital assets in the U.S. and thanked lawmakers and staff for work to strengthen the legislation, adding he hopes for a bipartisan law that reinforces the country's position as a global hub for crypto.