U.S. Senate Banking Committee Sends CLARITY Act to Full Senate After Bipartisan Vote

The U.S. Senate Banking Committee on Wednesday advanced the Digital Asset Market Clarity Act of 2025, moving the market structure legislation to the full Senate for further debate. The measure cleared the panel 15–9 during a markup of H.R. 3633, according to committee records and reporting by journalist Eleanor Terrett. Democrats Ruben Gallego and Angela Alsobrooks joined Republicans in voting in favor after what Chairman Tim Scott described as nearly a year of negotiations. The bill aims to establish a federal framework for digital asset markets. The committee debate surfaced sharp disagreements over consumer protection, ethics standards and the scope of federal oversight. Senator Elizabeth Warren argued the proposal is industry-focused and could heighten fraud risks. Senator Cynthia Lummis said the framework includes safeguards intended to curb illicit activity in crypto markets. Senator Thom Tillis also backed the bill, emphasizing the need for regulatory clarity and enforcement provisions. Lawmakers reviewed multiple amendments during the markup. Senator Chris Van Hollen offered an amendment to bar government officials and their families from holding crypto-related interests; it failed on a party-line vote. Senators also debated concerns about regulatory authority and investor protections, with supporters pointing to provisions intended to bring digital asset markets under clearer federal oversight and critics warning of potential enforcement gaps. The legislation now heads to the Senate floor, where additional debate and procedural votes will determine its next steps.