CLARITY Act
Senate banking committee to markup clarity act thursday amid stablecoin dispute
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The US Senate Banking Committee is scheduled to hold a markup on the CLARITY Act on May 14, with stablecoin rewards provisions remaining a key point of contention. Banking groups are pressing for tighter limits while the White House has accused industry leaders of skipping earlier negotiations.
The Senate Banking Committee will hold a markup hearing on the Digital Asset Market Clarity Act of 2025 on Thursday, May 14, at 10:30 a.m. The session comes after months of delays over stablecoin provisions and other issues.
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The Senate Banking Committee plans to mark up the CLARITY Act next week, but Democratic demands for conflict-of-interest rules and banking opposition to stablecoin rewards threaten to derail the effort. Negotiators reached a compromise on stablecoin yields earlier this month, yet banks argue the language still permits evasion. A long-delayed vote on the bill, which aims to clarify digital asset oversight between the SEC and CFTC, now hangs in the balance.
The Digital Asset Market Clarity Act, known as the CLARITY Act, advances in the U.S. Senate amid concerns over stablecoin rewards. Section 404 of the bill bans passive yields on payment stablecoins but allows activity-based incentives. This could reshape how platforms like Coinbase offer returns to users while integrating crypto into the traditional financial system.
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The CLARITY Act, aimed at regulating digital assets, has stalled in the US Senate after passing the House in July 2025. Coinbase's withdrawal of support has split the crypto industry, jeopardizing the bill's passage before midterm elections. Debates over amendments, including stablecoin yields and surveillance powers, dominate discussions into 2026.
The Digital Asset Market Clarity Act of 2025, known as the CLARITY Act, has cleared the House and is set for Senate markup in January. The bill seeks to resolve jurisdictional disputes between the SEC and CFTC while addressing decentralized finance and state oversight. Key provisions include a DeFi carve-out and a preemption clause for digital commodities.
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Following the Senate Banking Committee's December postponement of the crypto market structure bill markup to early 2026, senators are now set to review the CLARITY Act on January 15. The session addresses lingering issues like DeFi classification, SEC-CFTC jurisdictional lines, and stablecoin incentives, potentially paving the way for a federal digital asset framework.