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Senate Panel Advances Landmark Digital Asset Oversight Bill

The Senate Banking Committee voted to advance sweeping legislation establishing federal oversight of digital assets. This marked a significant breakthrough for a measure that had stalled for months. The Clarity Act, which would create a clear regulatory framework for cryptocurrency markets, passed the committee 15-9 Thursday following extended negotiations among lawmakers. The bill represents the crypto industry's top legislative priority and aims to establish standardized rules governing digital asset trading and custody. Bitcoin surged past $80,000 following the committee's action, reflecting market optimism about potential regulatory clarity. The measure now moves toward a broader Senate floor vote, where its passage would represent a major step toward comprehensive U.S. digital asset regulation.