India, Sept. 15 -- The Senate is expected to hold a procedural vote on Tuesday on the Digital Asset Market Clarity Act, also known as the Clarity Act. The bill is one of the biggest efforts yet to create a clear set of rules for the cryptocurrency industry in the US.

The Clarity Act is more than 600 pages long and would create the first broad legislative framework specifically for the crypto industry in US history. NPR described it as a possible game changer for the sector, but said the bill faces strong opposition before it can become law.

The main goal is to make it clearer which regulator controls crypto companies. The bill would divide responsibility for the crypto market between the Securities and Exchange Commission (SEC) and the ...