Overview
- The Digital Asset Market Clarity Act, which passed the Senate Banking Committee Thursday in a 15-9 vote, now moves to the full Senate.
- The bill needs 60 votes to clear a filibuster, so Republicans will need many more Democratic votes than the two they got in committee.
- Senate Democrats say they will not back the measure without conflict-of-interest rules addressing President Trump’s crypto ties.
- A revised draft settled a fight over stablecoin returns by banning passive interest and allowing activity-based rewards, yet ethics and some law-enforcement details remain unsettled.
- No floor vote is scheduled as leaders work to align the Senate text with the House and Agriculture versions, and TD Cowen now puts the odds of passage near 40%.