Lummis: CLARITY Act would let all US banks freely buy and hold bitcoin
- —Section 401 of the CLARITY Act would include buying and selling digital assets in national banks' permitted activities
- —The procedural vote needs 60 votes; Republicans hold 53 seats
- —Banking groups, 17 attorneys general and JPMorgan CEO Jamie Dimon opposed the bill
- —The SEC and CFTC said they will continue regulating crypto even if the vote fails
Why it matters: Allowing banks into bitcoin could give the market access to $20 trillion in US insured deposits, but the Senate vote outcome remains uncertain.
Source: CoinGape