2 hours ago
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Key Takeaways
- Clarity Act advances 15-9 from Senate Banking Committee
- Two Democrats voted in favor: Senators Gallego and Alsobrooks
- Stablecoin rewards: activity-based permitted, passive holding banned
- SEC and CFTC receive clearly defined jurisdictional boundaries
- Next stop: the full Senate floor, where cloture requires 60 votes
The Senate Banking Committee advanced the Clarity Act on May 14 in a 15-9 vote. Two Democrats crossed over: Senator Ruben Gallego and Senator Alsobrooks. Their votes did not change the outcome – the Republican majority would have passed the bill without them – but they changed what the outcome means.
🚨JUST IN: The Clarity Act ADVANCES out of the Senate Banking Committee in a 15-9 bipartisan vote, with two Democrats voting in favor: @SenRubenGallego and @Sen_Alsobrooks
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