With the U.S. Senate Committee on Banking passing the Digital Asset Market Structure Act, known as the CLARITY Act, cryptocurrency prices are rising.

According to global coin price site CoinMarketCap on the 15th, at 8:28 a.m. that day, bitcoin was trading at $81,300, up 2.5% from 24 hours earlier. Ethereum was up 1.69% at $2,295, and XRP was trading at $1.49, up 4.85%.

A price chart for coins is reflected on the floor where a Bitcoin model sits at the Bithumb Lounge Gangnam Main Branch in Seocho-gu, Gangnam-gu, Seoul. /Courtesy of News1

The U.S. Senate Committee on Banking passed the CLARITY Act on the 14th (local time) by a vote of 15 in favor to 9 against. Two Democratic senators joined Republicans in supporting the bill's passage.

The bill designates the CFTC as the primary regulator for most of the cryptocurrency industry, while allowing the SEC to retain authority over digital securities. Until now, the CFTC and the SEC had handled crypto-related policy simultaneously. The bill clarifies regulatory agencies' jurisdiction over the cryptocurrency industry to resolve regulatory uncertainty.

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