The US House Committee on Financial Services has approved the Digital Asset Market Clarity Act (CLARITY), a key bill for the structure of the cryptocurrency market, and has referred it to the full House for a vote, according to CoinDesk.
Lawmakers voted 32-19 in favor of moving the bill forward on Tuesday, following prior approval by a vote of 47-6 by the House Agriculture Committee.
Representative French Hill, the bill's sponsor, praised the progress and called it a "fair, functional, and forward-looking regulatory framework."
Representative Bryan Steil, chairman of the Financial Services Crypto Subcommittee, called the measure a "big step forward" for US leadership in Web3 and tokenized payments.