The Senate Banking Committee voted 15-9 on Wednesday to approve the CLARITY Act, a bill that would split oversight of digital assets between the Commodity Futures Trading Commission and the Securities and Exchange Commission. The vote marks the first time a major crypto regulatory framework has cleared a congressional committee this year, though the path to law remains long.
The vote breakdown
All 11 Republicans on the committee voted in favor, joined by four Democrats. The nine opposing votes came from the remaining Democrats. The bipartisan support was enough to advance the legislation, but the split shows crypto regulation still divides lawmakers along party lines.
What the CLARITY Act does
The bill gives the CFTC primary authority over digital commodities — think bitcoin and ether — while the SEC would oversee tokens that function as securities. It also sets a process for determining which category a token falls into, something industry advocates have long demanded. Critics argue the line is still blurry and worry about regulatory gaps.
Bitcoin's reaction
Bitcoin briefly surged after the vote, though the move faded within hours. The price jump suggests traders saw the committee approval as a positive signal for clearer rules, but the lack of follow-through also reflects skepticism about the bill's chances in the full Senate.
The CLARITY Act now heads to the Senate floor. No date has been set for a vote, and similar legislation in the House has stalled. If it passes the Senate, a conference committee would need to reconcile differences with any House version — a process that could stretch into next year.
