Svmuureports that the CLARITY Act passed the U.S. Senate Banking Committee review today and will now proceed to a full floor vote in the Senate.
According to Mars Finance, the market is currently optimistic about the bill being enacted this year, with the prediction market Polymarket giving it a success probability of over 70%. However, the bill must first clear the key procedural hurdle of the "cloture motion," requiring at least 60 votes out of 100 senators; otherwise, it could face indefinite delays.
Reports indicate that two Democratic senators have already crossed party lines to support the bill, and all 51 Republican senators are expected to vote in favor. Therefore, at least seven more Democratic senators need to support the bill for it to advance to the final voting stage.
Additionally, the CLARITY Act will later need to be reconciled with the version from the Senate Agriculture Committee. The Banking Committee version primarily addresses the SEC regulatory framework, securities attribute determination, exchange registration, and DeFi safeguards. The Agriculture Committee version focuses on CFTC regulation, digital commodity spot and derivatives markets. After the final unified text passes votes in both chambers, it will be sent to Trump for signing.
Previously reported: U.S. Senate Banking Committee Passes CLARITY Act with a 15:9 Vote.