Coinbase adviser forecasts May CLARITY Act markup, June floor timeline

A Coinbase executive and crypto adviser predict the Senate Banking Committee will hold its markup on the Digital Asset Market Clarity Act this month, leaving time for a potential Senate floor vote in June as lawmakers target July 4 passage.

Patrick Witt, a crypto adviser, stated that the Senate Banking Committee plans to conduct its markup during May. This schedule would leave four working weeks in June for the bill to reach the Senate floor, he said. The forecast aligns with earlier reports that the panel is preparing for a bipartisan markup the week of May 11, following compromises on stablecoin provisions.

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Senate banking committee members in a formal hearing room debating cryptocurrency legislation.
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Senate banking committee to mark up clarity act next week

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Lawmakers are accelerating efforts to advance the Digital Asset Market Clarity Act through the Senate, with a key committee markup scheduled for the week of May 11. White House and congressional officials are pushing for passage by July 4 amid ongoing negotiations over stablecoin rules and ethics provisions.

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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Following last week's stablecoin yield compromise by Senators Tillis and Alsobrooks, crypto stocks rallied and markup expectations grew for the Digital Asset Market Clarity Act. Circle shares surged 18% amid optimism for Senate Banking Committee action the week of May 11, despite banking pushback.

The White House convened its second closed-door meeting with cryptocurrency and banking industry representatives to address disputes over stablecoin yields in the stalled CLARITY Act. The discussions focused on resolving tensions that have halted the bill's progress in the Senate. Banking groups emphasized the need for innovation without risking bank deposits.

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The latest White House meeting between bankers and crypto experts showed progress on stablecoin yield issues, though no agreement was reached. This third session aimed to resolve a key impasse blocking the Digital Asset Market Clarity Act. Participants described the discussions as constructive, with more talks expected.

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