Virtual Asset Market Structure Bill Passes U.S. House Financial Services Committee… Heads to Full House Vote

The 'CLARITY Act', which aims to clarify regulations related to virtual assets (cryptocurrencies), passed the U.S. House Committee on Financial Services on the 10th (local time).

On this day, the House Financial Services Committee approved the bill with 32 votes in favor and 19 against. With this vote, the CLARITY Act now advances to a full House vote. Previously, a similar level of bipartisan support led to the bill passing in the Agriculture Committee as well.

This bill, led by Republican House member Bryan Steil, is a digital asset legislation focused on establishing clear rules for Web3 innovation, tokenized payment systems, and the structure of financial markets. French Hill, Chair of the Financial Services Committee, explained, "This is a key measure to create an environment where innovative businesses, consumers, and investors can clearly understand the rules and invest with confidence."