House Republicans say they can pass a sweeping piece of legislation that could codify digital commodities into the wider financial system, and they feel confident the Senate will help carry their bill to the finish line.
The CLARITY Act, a House Republican bill that would regulate the cryptocurrency market and divide up who has authority over which parts, is working its way to the House floor. On Tuesday, it was passed out of the relevant committees with bipartisan support.
The bill could become one of the first and most sweeping pieces of legislation passed by Congress in the cryptocurrency space.