US Senate Banking Committee rejects all Democratic amendments to CLARITY Act

The U.S. Senate Banking Committee, which is currently holding a markup session for the CLARITY Act, has rejected all detailed amendments proposed by Democrats. So far, more than 16 amendments have been voted down. Democratic senators have protested the chairman's handling of the markup process, arguing for the inclusion of ethics-related provisions in the bill. The committee is continuing to vote on the specifics of the legislation and will ultimately vote on whether to advance the bill to the full Senate floor. The committee is composed of 24 senators—13 Republicans and 11 Democrats—and requires 13 votes to pass the bill. If the Banking Committee approves the legislation, it will then undergo a process of jurisdictional coordination and integration with the Senate Agriculture Committee before it can be considered for a full Senate vote.