The Senate Banking Committee voted 15-9 on Thursday to advance the Digital Asset Market Clarity Act to the full Senate. The bipartisan vote marks the first time a major crypto regulation bill has cleared a Senate committee this year. Bitcoin hit $81,500 following the news, while Coinbase stock surged over 8% and Strategy shares rose 7%.
What the bill does
The Digital Asset Market Clarity Act aims to establish a federal framework for digital asset markets. Its exact provisions remain under wraps until the full text is published, but the committee's vote signals growing momentum for clearer rules. The 15-9 tally suggests some bipartisan support, though opposition from a minority of members indicates the bill could still face hurdles on the Senate floor.
Market reaction
Thursday's price action was swift. Bitcoin climbed to $81,500 — a level not seen in weeks — as traders interpreted the committee's move as a positive signal for regulatory certainty. Coinbase, the largest U.S.-based crypto exchange, saw its stock jump more than 8% during the session. Strategy, the corporate bitcoin holder formerly known as MicroStrategy, tacked on 7%.
The rally wasn't limited to stocks tied to crypto. Broader market indices also edged higher, though the gains were most pronounced in digital-asset-linked names.
Path to the Senate floor
Now the bill heads to the full Senate for debate and a vote. No timeline has been set. The committee's action doesn't guarantee passage — similar bills have stalled in previous sessions. But for an industry that's spent years lobbying for a clear legal framework, getting out of committee is a concrete step forward.
The next big question: whether Senate leadership will schedule a vote before the summer recess. Supporters will need to pick up at least a handful of Democratic votes to overcome a potential filibuster. Thursday's margin suggests that's possible, but far from certain.
