Chairman of the Senate Committee on Banking, Housing and Urban Affairs Tim Scott, R-S.C., and ranking member Elizabeth Warren, D-Mass., are among 24 senators who will vote on the Digital Asset Market Clarity Act, a bill to set a framework for regulating cryptocurrency, on Thursday. Photo by Bonnie Cash/UPI | License Photo
May 14 (UPI) -- The Senate Banking Committee will vote on Capitol Hill on Thursday on a bill to establish a framework for regulating the cryptocurrency industry.
The Digital Asset Market Clarity Act, designed in part by stakeholders in the cryptocurrency industry, divides oversight between the Securities Exchange Commission and the Commodity Futures Trading Commission. It also may shield crypto companies from lawsuits and investigations.
The latest version of the bill was published by committee chairman Sen. Tim Scott, R-S.C., on Tuesday. There are 13 Republicans and 11 Democrats on the committee, including ranking member Sen. Elizabeth Warren, D-Mass.
The bill does not include restrictions on government officials investing or participating in the cryptocurrency industry.
