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Senate Banking Committee Passes Clarity Act for Crypto Regulation
Description
The Clarity Act, aiming to regulate cryptocurrency, passed the Senate Banking Committee with a 15-9 vote. While Republicans and Democrat Ruben Gallego supported it, banks, unions, and law enforcement oppose it, citing potential risks to financial stability and tracking bad actors. Despite Democratic amendments, the bill moves forward, with a long road ahead in the full Senate, House, and at the Presidents desk. Bipartisan talks hint at potential progress.
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