CLARITY Act Clears Senate Banking Committee With CBDC Blocked, 160 Officials Sign Support Letter

The CLARITY Act cleared the Senate Banking Committee this week with bipartisan support, advancing the Digital Asset Market Clarity Act toward a full Senate vote. According to the Blockchain Association, 160 former national security, intelligence, and law enforcement professionals signed a letter on June 2 urging Senate leaders to advance the legislation.

Under the proposal, digital commodities would fall under Commodity Futures Trading Commission (CFTC) supervision, while the Securities and Exchange Commission (SEC) would oversee securities-related offerings. The bill includes provisions blocking the Federal Reserve from issuing a retail central bank digital currency without explicit Congressional approval.