Senate committee advances first comprehensive crypto regulation bill

The Senate Banking Committee voted 15-9 to advance the CLARITY Act, the first comprehensive cryptocurrency regulation bill to clear a Senate committee. Democratic Sens. Ruben Gallego (AZ) and Angela Alsobrooks (MD) joined all Republicans on the panel. The bill would divide digital asset oversight between the SEC and CFTC and amend the Federal Reserve Act, but faced opposition from banks, unions, and law enforcement agencies.