The CLARITY Act has finally moved forward, and the 15-9 vote count was more contested than expected. Gallego kept a card up his sleeve, waiting to see the overall Senate's stance.

The Senate Banking Committee approved the CLARITY Act with a 15-9 vote, Gallego supported it but will wait for a full Senate vote; bipartisan amendments were agreed upon and passed, with only Gallego and Alsobrooks voting in favor. The next step will be to align with the Agriculture Committee, Thune urged for full Senate debate, and it is expected that the Senate and House will reach a consensus and send it to the President for signing before August. The core issue of ethical provisions remains undecided, and topics such as DeFi regulation may be discussed again. Overall, it is seen as an important milestone for the digital asset market.