US Senate advances Digital Asset Market Clarity Act

The Senate Banking Committee voted 15‑9 to advance the Digital Asset Market Clarity Act, moving the bill closer to a full Senate vote. The legislation would divide digital assets into three categories—digital commodities, investment‑contract assets, and permitted payment stablecoins—and assign oversight to the Commodity Futures Trading Commission, the Securities and Exchange Commission, or joint SEC‑CFTC supervision respectively.

If enacted, the act aims to end the regulatory uncertainty that has affected roughly 67 million American crypto users, providing a clear framework for tokens such as Bitcoin, Ether, and stablecoins. Unresolved issues remain, including ethics rules tied to President Trump’s crypto connections, stablecoin yield limits and anti‑money‑laundering provisions, which could shape the final version that reaches the White House.