The US Senate Banking Committee advanced a long-awaited digital asset market structure bill with bipartisan support, but Republicans still need Senate Democrats' votes to pass the bill in the full chamber.

On Thursday, Democratic Senators Ruben Gallego and Angela Alsobrooks sided with 13 Republicans to vote for the Digital Asset Market Clarity Act (CLARITY) after months of delays in the banking committee. With the US Senate Agriculture Committee having already voted to advance the bill in January, addressing laws and regulations affecting commodities markets, the legislation is expected to head to the full Senate for a vote soon.

"The momentum and progress are both strong," said Crypto Council for Innovation CEO Ji Hun Kim in a Thursday statement on CLARITY. "The House previously passed its version 294 to 134, with 78 Democrats voting in favor. The Senate Agriculture Committee passed its portion of market structure legislation in January. Now the Senate Banking Committee has done the same with votes in support from both Republicans and Democrats."