Bitcoin (CRYPTO: BTC) crossed $80,000 Monday as Senate Banking Committee chairman Tim Scott (R-SC) declared the CLARITY Act is in the “red zone.”

Scott Targets May Markup, June Vote

Scott told Fox Business he hopes to hold a markup of the CLARITY Act in May and bring the bill to the Senate floor in June or July. 

The legislation passed the House in July 2025 but stalled in the Senate as banks and stablecoin companies fought over stablecoin yield.

Coinbase had pulled its support of the bill in mid-January due to a draft amendment that would have prevented crypto firms from offering yield on user stablecoin balances.

ETF Inflows Hit $630 Million Friday

Monday’s rally followed stronger…

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