Business EconomyPosted at: May 15 2026 11:48PM


US Senate Panel Clears Landmark Cryptocurrency Bill

Indian Crypto Industry Sees Major Global Regulatory Shift
Mumbai, May 15 (UNI) The United States Senate Banking Committee on Thursday cleared the Digital Asset Market Clarity Act, advancing what is being described as the most comprehensive cryptocurrency legislation in American history and triggering reactions across global digital asset markets.
The bill, if enacted into law, will formally define which digital assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) and which come under the Commodity Futures Trading Commission (CFTC), ending years of uncertainty over regulatory authority in the sector, a financial analyst said.
The proposed legislation also addresses regulation of stablecoins, protections for decentralised finance and bankruptcy safeguards for crypto customers. Following the committee’s approval, both Bitcoin and Ethereum registered gains in the market. The bill must still pass a full Senate floor vote before being sent to the President for final approval.
Indian cryptocurrency industry leaders said the development carries significance beyond the United States market.
Ashish Singhal, co-founder of CoinSwitch, said the bill addresses a major structural issue that has affected the global crypto ecosystem.
“The CLARITY Act is a significant moment for the global crypto industry because it finally attempts to address one of the ecosystem's biggest unresolved challenges — regulatory clarity around digital assets. Despite over 40 per cent of Americans already having exposure to crypto, the industry has largely operated without a clearly defined legislative framework for nearly a decade,” Singhal said.
He added that the market views the legislation as a strong indication that cryptocurrency regulation in the United States is entering a more mature phase and that such frameworks could eventually become important global reference points for integrating digital assets into the broader financial system.
Nischal Shetty, founder of WazirX, said the absence of regulatory clarity in the US had directly affected market growth.
“For years, exchanges operating in the US did not know which regulator they answered to. Both the SEC and the CFTC claimed authority over the same assets, with no clear boundary between them. Platforms caught between them could not build products with confidence. Institutions stayed out,” Shetty said.
He said the development also offers lessons for India, where millions of virtual digital asset holders continue to operate without a comprehensive regulatory framework.
Shetty added that the US move could serve as a reference model for Indian policymakers alongside frameworks such as the European Union’s Markets in Crypto-Assets (MiCA) regulation implemented in 2024.
Vikaas M Sachdeva, Chief Executive Officer of BitDelta India, said the bill reflects the growing maturity of the digital asset sector.
“Every financial category reaches a stage where growth alone is no longer enough and the conversation begins shifting towards accountability and long-term legitimacy. Frameworks like these help move the market from interpretation to greater operational clarity,” Sachdeva said.
He noted that India already has strong participation, a rapidly evolving compliance structure and one of the world’s most digitally active investor bases.
The White House has indicated that it wants the legislation signed into law by July 4.
UNI AAA CDS
Please log in to get detailed story.
Tags: #US Senate Panel Clears Landmark Cryptocurrency Bill
More News

Apollo Tyres emerges fastest climber in Global Brand Strength Rankings for 2026

09 Jun 2026 | 9:23 PM

Kochi, June 9 (UNI) Leading tyre manufacturer Apollo Tyres Ltd has emerged as the fastest climber in the 2026 Global Tyre Brand Strength rankings released by brand valuation consultancy Brand Finance, registering a significant improvement in its global brand standing driven by strategic marketing initiatives, sports sponsorships and product innovation.

see more..

DPIIT leads Industry outreach in UP to accelerate reforms, exports and investment growth

09 Jun 2026 | 7:20 PM

Lucknow, Jun 9 (UNI) The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, in collaboration with Invest UP, on Tuesday organized an awareness workshop on key government schemes, programmes and policy initiatives, bringing together leading industry associations and stakeholders to enhance outreach, strengthen industry engagement, and promote wider participation in India's industrial growth agenda.

see more..

Stock markets snap two-day losing streak, Sensex Gains Nearly 400 pts

09 Jun 2026 | 7:09 PM

New Delhi, Jun 9 (UNI) Indian stock markets snapped a two-day losing streak and ended higher amid easing geopolitical tensions and moderation in crude oil prices.

see more..

Kiran Bedi pitches Bharat Skill Exchange as ‘solution’ to India’s skill challenge

09 Jun 2026 | 6:44 PM

Anurag Kumar
New Delhi, Jun 9 (UNI) Bharat Skill Exchange, a platform aimed at bridging the skill gap in India through trust and transparency, held a launch event in the national capital on Tuesday. The platform connects high-potential learners, verified training institutions, and impactful sponsors in a transparent ecosystem.

see more..

Salesforce Commits to Creating One Million AI Learners in India by 2030

09 Jun 2026 | 6:41 PM

Hyderabad, June 9 (UNI): Salesforce President and CEO (South Asia), Arundhati Bhattacharya, on Tuesday announced the company's commitment to create one million AI-enabled learners in India by 2030, highlighting the growing demand for artificial intelligence skills and the widening gap between job opportunities and available talent.

see more..