U.S. Digital Asset Regulation at a Turning Point: CLARITY Act Gains Bipartisan Support, Enters Key Legislative Stage

Odaily reported that during a recent Senate Banking Committee hearing, the Digital Asset Market Clarity Act ("CLARITY Act") has made substantial progress, advancing to a full Senate vote with a 15-9 result.

Several bipartisan lawmakers emphasized during the discussions that the U.S. urgently needs to establish a unified regulatory framework covering digital assets to clarify asset classification, trading platform regulation, and market structure rules, thereby providing long-term certainty for the industry. For instance, Angela Alsobrooks highlighted from a family perspective that younger generations show a natural interest in digital assets, and the regulatory system should balance "opportunity and protection" to prevent technological development from escaping regulatory constraints. Tim Scott stressed the need to advance legislation from the perspective of economic opportunity and the American Dream, while Cynthia Lummis noted that the legislative process has already demonstrated a clear foundation for bipartisan cooperation.

Supporters argue that digital assets have become an irreversible trend, with approximately 68 million Americans currently holding related assets. However, a significant volume of trading still occurs on overseas platforms. The U.S. urgently needs to establish a domestic regulatory framework to enhance market transparency and investor protection. Analysts point out that the CLARITY Act is seen as a key supplement following stablecoin-related legislation (the GENIUS Act). Without supporting market structure rules, the U.S. risks losing its dominant position in the digital financial infrastructure competition.

With the bill advancing to the full Senate stage, observers are broadly focused on whether it can complete final legislation based on bipartisan consensus, thereby establishing the core rules of the U.S. digital asset regulatory framework. (CoinDesk)