U.S. Senate Banking Committee is reviewing ClarityAct, Bitcoin breaks $81,000

The U.S. Senate Banking Committee is currently holding a key review meeting of the Digital Asset Market Clarity Act ("Clarity Act"). The committee will discuss and vote on dozens of amendments and decide whether to move the bill into the full Senate review stage. The bill aims to clarify the regulatory authority of the SEC and CFTC over digital assets and establish a regulatory framework for the structure of the crypto market. During the meeting, Senator Cynthia Lummis said that the Clarity Act was "one of the most difficult pieces of legislation he has ever participated in" and said the bill had been negotiated over a long period of bipartisan negotiations and involved issues such as stablecoin gains, anti-money laundering and law enforcement powers. Elizabeth Warren said the bill was "not ready yet" and criticized it for having loopholes in anti-money laundering and sanctions enforcement. In addition, the committee passed an amendment on the AI regulatory sandbox by a 15 - 9 vote, while Warren's amendment to sanctions authority on currency mixers such as TornadoCash was not passed by a 11 - 13 vote. On the market side, Bitcoin once exceeded US$81,000 during the meeting, and the U.S. stock market S & P 500 index also hit a record high.