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The Senate Banking Committee opened a historic markup Thursday morning on H.R. 3633, the Digital Asset Market Clarity Act of 2025, moving the most sweeping attempt at federal cryptocurrency regulation in American history toward a committee vote.
The session — defined by sharp partisan exchanges, procedural disputes, and targeted Republican courtship of crossover Democrats — unfolded against a hard deadline: if the bill does not clear the committee before the Memorial Day recess, the entire legislative calendar resets.
Chairman Tim Scott (R-SC) opened by casting the bill as a correction to years of regulatory failure.
“For years, the digital frontier was trapped…
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