CLARITY Act clears Senate Banking Committee, heads to full Senate vote; needs seven more Democratic senators to reach 60-vote threshold

Odaily Planet Daily reports that the U.S. Senate Banking Committee has approved the CLARITY Act, sending the bill to the full Senate. Huoxing Finance cited market optimism that the legislation could be enacted this year. Polymarket currently places the odds of passage at above 70%. Before a final vote, the bill must pass a cloture motion, which requires at least 60 of 100 senators to avoid an indefinite delay. Two Democratic lawmakers have publicly backed the bill, and all 51 Republican senators are expected to vote in favor, leaving the measure needing support from at least seven additional Democratic senators to clear cloture and proceed. The CLARITY Act must also be reconciled with a separate version from the Senate Agriculture Committee. The Banking Committee draft centers on the SEC framework, securities classification, registration requirements for trading platforms, and protections related to DeFi. The Agriculture Committee's version emphasizes CFTC oversight and the spot and derivatives markets for digital commodities. After both chambers approve a unified text, it would be sent to Trump for signature. Earlier reports said the Senate Banking Committee passed the CLARITY Act by a 15'9 vote.