BlockBeats News, May 14th, The "Cryptocurrency Market Structure Clarity Act" (known as the CLARITY Act) is currently in the voting stage at the hearing of the U.S. Senate Banking Committee today. If passed, the CLARITY Act will proceed to a full Senate vote.

The final enactment of the CLARITY Act still needs to go through multiple procedures. If the Senate-passed version is identical to the version passed by the House of Representatives, the bill will be sent directly to the President for signing (or automatically become law). More commonly, when there are differences between the versions from the two chambers, it will enter a reconciliation stage. This can be achieved through "amendment exchanges" or the establishment of a conference committee between the two chambers to negotiate a final unified text, after which both chambers will vote on this unified version. After both chambers pass completely identical text, the bill is formally presented to the President, and the entire process may still take weeks to months.