The CLARITY Act passed the Senate Banking Committee 15-9 after a last-minute compromise added seven amendments, but faces a steep climb to 60 votes on the floor.

The Senate Banking Committee has voted to advance the Clarity Act, a key piece of cryptocurrency legislation, to a full Senate vote.

Senate Democrats intensified efforts to challenge the CLARITY Act, warning the crypto market structure bill could leave major illicit finance

Crypto firms welcomed progress of the US CLARITY Act, saying clearer digital asset rules could boost global adoption and investment.