Democrats Split on Clarity Act as Crypto Bill Passes Key Senate Committee Vote

A notable development has hit the crypto markets. Senate Democrats splintered Thursday in their support of the Clarity Act during a crucial Senate vote, with two pro-crypto members of the party voting for the landmark crypto bill, and all others voting against. Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) voted for the legislation, despite the fact both had indicated they would not do so unless a deal on language related to limiting President Donald Trump’s personal crypto ventures had been met by the time of today’s vote.

No such deal has yet been reached. At the Senate Banking hearing, the Clarity Act thus received enough support to move towards the Senate floor for final consideration, with all Republican committee members joining Gallego and Alsobrooks to support the bill.

It would formally legalize most crypto activity in the United States. This is a breaking story and will be updated.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.