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Senate panel clears crypto bill

by Julia Shapero and Miranda Nazzaro - 05/14/26 6:56 PM ET

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by Julia Shapero and Miranda Nazzaro - 05/14/26 6:56 PM ET

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The Big Story

Senate panel advances crypto bill with bipartisan support

A cryptocurrency regulation bill advanced out of the Senate Banking Committee on Thursday, clearing a key hurdle with the support of a pair of Democrats following a last-minute bipartisan push.

The Senate panel voted 15-9 to send the Clarity Act to the floor, with Sens. Ruben Gallego (D-Ariz.) and Angela Alsobrooks (D-Md.) joining their GOP colleagues to advance the measure.

The vote marked a major step forward for the bill, which has faced a long and winding path through the Senate over the past year.

However, the final tally may preview the problems it could face on the floor, where it will need more Democratic support to get across the finish line.

“Through serious, bipartisan negotiations, we have made incredible progress on this bill. We have narrowed the gap on many of the outstanding issues,” Gallego said in a statement following the markup.

“My vote today is so we can continue these efforts. But I want to be clear: My vote here does not guarantee a vote on the floor,” he added.

The markup of the bill, which aims to provide guidelines for federal regulators overseeing the crypto industry, comes after months of negotiations between Senate Republicans and a contingent of crypto-friendly Democrats.

Talks continued down to the wire, with senators indicating that discussions were ongoing as of Thursday morning.

This appears to have proved somewhat fruitful, as Senate Banking Chair Tim Scott (R-S.C.) opted to add in several amendments part way through the markup at the request of several Democrats “to make this a bipartisan outcome.”

Check out the full report at TheHill.com.

Welcome to The Hill’s Technology newsletter, we’re Julia Shapero and Miranda Nazzaro — tracking the latest moves from Capitol Hill to Silicon Valley.

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