CLARITY Act markup set for May 14; industry calls it 'big step'

The Senate Banking Committee has scheduled an executive session to consider H.R.3633, the Digital Asset Market Clarity Act (CLARITY Act), on May 14, 2026 at 10:30 AM in Dirksen Senate Office Building, according to the committee calendar.

That announcement follows a bipartisan compromise between Senators Thom Tillis and Angela Alsobrooks on stablecoin yield language that had stalled the bill for months. The agreement would ban interest-like payouts on idle stablecoin balances while permitting limited, activity-based rewards tied to genuine platform usage — a compromise aimed at addressing bank concerns over deposit flight while preserving some crypto business models.

Industry reaction was swift. Coinbase Chief Policy Officer Faryar Shirzad described the timetable and the recent text changes as a “big step forward,” arguing the deal protected key elements needed for on-chain innovation and consumer options. Market participants interpreted the comment as a sign that one of the largest remaining political barriers has narrowed.

For context, the CLARITY Act (H.R.3633) was approved by the U.S. House in July 2025 and seeks to create a statutory framework delineating SEC and CFTC jurisdiction, token taxonomy, DeFi safe harbors, and rules for stablecoin issuance and redemption. Those House actions and the bill text are part of the public Congressional record.

Analysts say the May 14 markup is a material procedural win but not a guarantee of final passage: even if the Banking Committee advances the bill, it must still clear the full Senate (potentially needing 60 votes on key procedural hurdles), reconcile differences with other committee texts, and return to the House for final approval. Short-term market moves — including reported gains in major digital assets on early momentum — reflect investor relief, but long-term industry structure will depend on final wording and regulatory implementation.