Republican Amendment to CLARITY Act Passes 18-6 in Senate Banking Committee on May 15

According to BlockBeats, on May 15, Senate Republicans' amendment to the CLARITY Act passed with 18 votes in favor and 6 opposed during the Senate Banking Committee hearing. The amendment establishes SEC and CFTC regulatory frameworks for digital commodity offerings and sales, including investor and consumer protection enforcement.

Democratic Senator Warren opposed the amendment, stating it strips states of enforcement authority and contains exceptions and loopholes that render it largely ineffective. She argued that state-level enforcement remains the primary defense against fraud as the crypto industry grows.