U.S. Senators advance crypto regulation
The U.S. Senate is heading toward a vote on the "Clarity" bill to regulate the cryptocurrency market, aiming to establish the first comprehensive federal regulatory framework in the United States. The law seeks to categorize digital tokens as currencies and digital assets, and to assign jurisdiction among regulatory bodies, which will help provide legal clarity to the sector and promote the widespread adoption of cryptocurrencies. The digital assets industry considers this legislation to be a significant legislative victory, especially after receiving financial support exceeding $119 million in the 2024 elections, despite opposition from some banks and Democrats calling for stricter restrictions on the sector. The Senate is expected to vote on the bill after returning from the mid-September recess, provided that the necessary votes are secured from both parties.
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