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The Senate Banking Committee may vote on the CLARITY Act as early as May 14, moving the landmark crypto regulation bill closer to a full Senate debate after months of delay. Draft legislative text has already reached select industry participants, according to multiple sources close to the process. Committee Chairman Tim Scott wants to complete markup before May 21, when the Memorial Day recess begins.
The White House has also set an ambitious target. It wants the bill ready for the President’s signature by July 4, America’s 250th anniversary.
The CLARITY Act passed the full House in July 2025 with a bipartisan vote of 294 to 134. Still, the bill later slowed in the Senate as lawmakers debated stablecoin yield provisions. That deadlock shifted on May 1, when Senators Thom Tillis and Angela Alsobrooks reached a bipartisan compromise.
The agreement bans passive yield on stablecoins. As a result, simply holding USDC or USDT would not generate interest-like returns. At the same time, the deal allows activity-based rewards tied to real platform use. That means rewards linked to transactions, trading volume, or other user activity can remain permitted under the compromise.
The CLARITY Act aims to end years of regulatory confusion in US crypto policy. It would draw clearer lines between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The bill also sets a federal framework for digital asset markets, including exchanges, institutions, brokers, and dealers serving crypto customers.
It places focus on consumer protections, disclosure standards, and operating rules for digital asset firms. The proposal also gives developers disclosure obligations and creates legal paths for digital asset fundraising and trading under federal oversight.
Could this bill finally replace regulation through enforcement with clear market rules for US crypto firms?
Also Read: CLARITY Act Stablecoin Deal Clears Major Path for Senate Crypto Review
Coinbase Chief Policy Officer Faryar Shirzad linked the markup push to the broader demand for US-based crypto rules. He said clear market structure rules are needed to protect consumers, support innovation, and keep development from moving offshore.
Kristin Smith, president of the Solana Policy Institute, also called the notice a major step for US digital asset policy. She said years of advocacy, education, and engagement from builders helped drive the current momentum in Washington.
The Blockchain Association said the bill would resolve a long-running question over which federal regulator governs digital asset markets. Even so, a committee vote would not end the process.
If the Senate Banking Committee advances the bill, the full Senate must still vote on it. Then, lawmakers would need to reconcile the Senate version with the House version before sending it to the President.
Meanwhile, some community members are cautious. Several social media users noted that the timeline remains unconfirmed until the markup appears on the official Senate calendar.
A user wrote, “I want to see it on the calendar.”
The CLARITY Act is gaining momentum as the Senate Banking Committee prepares for a possible vote. The stablecoin yield compromise helped move the bill forward after months of delay. Still, the full Senate vote and House reconciliation remain key steps before final approval.
