The Senate Banking Committee of the CLARITY Act begins to vote on amendments one by one.

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BlockBeats News, May 14th, the “Cryptocurrency Market Structure Act” (also known as the CLARITY Act) is currently in the voting stage after being reviewed by the U.S. Senate Banking Committee, beginning to vote on each amendment individually. If approved, the CLARITY Act will move to a full Senate vote.

The final passage of the CLARITY Act into law still requires several procedures. If the version passed by the Senate is exactly the same as the version passed by the House of Representatives, the bill will be sent directly to the President for signature (or automatically become law). More commonly, there are differences between the two chambers’ versions, which then require a reconciliation process, either through “amendment exchanges” or by establishing a conference committee to negotiate a final unified text. Afterward, both chambers will vote on the unified version. Once both chambers pass the exact same text, the bill is officially sent to the President, and the entire process may still take several weeks to months.

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