Senate Panel Advances Clarity Act in 15-9 Bipartisan Vote

The Senate Banking Committee voted 15-9 on Thursday to advance the Clarity Act, a bipartisan cryptocurrency bill, sending it to the Senate calendar for consideration by the full chamber. Every Republican on the committee voted in favor. Democrats Ruben Gallego of Arizona and Angela Alsobrooks of Maryland crossed party lines to support the measure; the remaining Democrats voted against it.

The Clarity Act would set federal definitions and rules for digital assets and the firms that handle them. Backers say the bill aims to reduce uncertainty for exchanges, stablecoin issuers and other market participants. Opponents raised concerns that some provisions could favor particular firms and that consumer protections remain incomplete.

Negotiations over the bill continued through Wednesday night but stalled on an ethics provision. Cynthia Lummis, a lead sponsor, told the committee that negotiators had resolved most differences and offered a brief assessment: “Ultimately, we have an agreement on 99% of the bill. I hope my colleagues across the aisle will work with me to get the remaining 1% resolved after we pass this bill out of committee.” Alsobrooks cautioned that her committee vote does not guarantee she will support a final Senate vote unless the promised ethics language is included.

If the full Senate takes up the bill, sponsors will need 60 votes to invoke cloture and proceed to final passage. Senate leaders expect a reconciliation process with the House version, which passed 294-134 in July 2025, before the legislation could reach the president for signature. Lummis has warned that missing the current congressional window could delay action until 2030.

Markets reacted to the committee vote. Bitcoin traded as high as $82,000 on Thursday. Shares of Circle rose about 20% and Coinbase advanced roughly 6% during the day. Some prediction markets adjusted the odds of the bill passing to about 70%.

Committee debate reflected the partisan split on crypto policy. Republicans argued the bill would provide clarity for the market; most Democrats cited unresolved technical issues and the failed ethics talks as reasons to oppose the measure. The two Democrats who voted to advance the bill said they were persuaded to move it forward despite outstanding concerns.

Lawmakers and industry representatives are expected to continue negotiating technical changes and the ethics language as the bill moves toward the Senate floor. The committee vote clears a procedural hurdle but does not guarantee final passage in the Senate or agreement with the House.