Senate Banking Committee Advances CLARITY Act in 15-9 Vote, Setting Up Historic Floor Showdown

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2026-05-15 02:03:02

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The Senate Banking Committee voted 15-9 to advance the CLARITY Act, with Republicans and two Democrats supporting the bill. The markup saw over 100 amendments, including 40 from Senator Elizabeth Warren, who criticized the legislation as industry-friendly. Committee Chair Tim Scott framed the bill as a measure to protect consumers, keep crypto innovation in the U.S., and safeguard national security.

Senator Cynthia Lummis defended the bill as pro-law enforcement and pro-consumer, while Democrats accused Republicans of dismissing their amendments arbitrarily. The debate highlighted partisan divides, with Scott's AI regulatory sandbox provision adopted and Warren's tokenization proposals rejected.

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