Gemini Space Station Shares Jump 6% as CLARITY Act Clears Senate Committee
GEMI•Gemini Space Station stock climbed 6% after the Senate Banking Committee approved the CLARITY Act by a 15–9 bipartisan vote. The bill establishes legal standards for payment, lending, custody and trading of tokenized assets and now heads to a full Senate vote needing seven Democratic supporters.
1. Senate Committee Approval of CLARITY Act
The Senate Banking Committee approved the CLARITY Act in a 15–9 bipartisan vote, marking the first major legislative milestone for digital asset regulation. Key Democratic senators supported the measure but underscored the need for final ethics and oversight provisions before a full Senate consideration.
2. Crypto Stock Rally
Gemini Space Station stock surged 6% on the news, while other platforms saw gains—Coinbase up 9%, Robinhood up 5% and SoFi up 3%. Investors welcomed the clearer framework for how banks and crypto venues can conduct payment, lending, custody and trading of tokenized assets.
3. Remaining Hurdles Before Full Senate
With committee passage secured, the bill moves to a full Senate vote requiring at least seven Democratic backers for passage. Lawmakers still must resolve illicit finance measures, establish conflict-of-interest guardrails for elected officials and settle rules on stablecoin interest payments.
