U.S. Senate Banking Committee Schedules CLARITY Act Executive Session May 14 in Washington, D.C.

The U.S. Senate Banking Committee is scheduled to hold an executive session on May 14 at 10:30 a.m. in the Dirksen Senate Office Building in Washington, D.C., to consider the Digital Asset Market Clarity Act of 2025.

“Crypto industry cheers Senate Clarity Act markup date as market structure push resumes The bill's progress follows talks on jurisdiction, consumer/developer protections, and stablecoin rewards, with crypto firms backing a yield compromise”

@coindesk

Senate Banking Committee Chairman Tim Scott said the panel will meet on May 14, and the bill is designed to define federal oversight of digital assets by clarifying when crypto tokens are treated as securities, commodities or other types of digital assets.

@coindesk

The Clarity Act would divide regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and the House previously passed its version of the bill in July last year by a 294-134 bipartisan vote.

CoinDesk said the markup date follows a January postponement and that months of talks over regulatory jurisdiction, consumer protections, developer protections and stablecoin rewards preceded the renewed push.

Cody Carbone, CEO of The Digital Chamber, said the notice marks “a major step” toward clarity for “more than 70 million Americans who use cryptocurrencies.”

A central dispute ahead of the May 14 markup involves stablecoin rewards, where a compromise brokered by Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks would prohibit customer rewards on idle holdings of dollar-backed stablecoins because of their similarity to bank deposits.

CoinDesk reported that crypto firms backed a stablecoin yield compromise meant to unlock the bill, while banking trade groups continued to press edits through a joint letter addressed to Senate Banking Committee leaders Tim Scott and Elizabeth Warren.

AMBCrypto

CryptoSlate said the markup would test whether the stablecoin compromise can survive pressure from banks, crypto firms and Democrats seeking stricter ethics language, with the committee step moving the bill from private negotiations into a public amendment process.

Coinpaper said banking associations objected to the compromise, arguing it still leaves room for reward programs that could resemble yield, and it noted that lawmakers had shifted attention to other unresolved areas including ethics language.

In a May 8 letter, a coalition led by the American Bankers Association argued Congress should close what it described as an interest loophole, and CryptoSlate quoted Lorrie Trogden of the Arkansas Bankers Association saying stablecoins lack the protections and community-lending function of bank deposits.

If the Senate Banking Committee approves the CLARITY Act language, it would then be combined with the Senate Agriculture Committee’s section to create one final Senate version before the bill heads to the full chamber for a floor vote.

“The Senate Banking Committee scheduled a May 14 markup for the CLARITY Act, setting up the Senate’s first formal committee debate over digital asset market structure legislation”

Bitcoin News

Coinpaper said the bill’s path depends on final language on stablecoins, ethics, DeFi oversight and market oversight, and it noted that the bill would need support from at least seven Democrats in the full Senate to pass.

CryptoSlate described the committee step as a move from private negotiations into a public amendment process, where lawmakers are expected to test whether the stablecoin incentives compromise can survive amendment pressure.

Coinpaper also reported HarrisX polling showing 52% of registered voters support the Clarity Act after a neutral description, while 11% oppose it, and it cited Coinbase Chief Executive Brian Armstrong saying “Passing the CLARITY Act is a bipartisan, and winning, issue.”

Meanwhile, CU Today quoted Washington Credit Union advocate John McKechnie saying, “Between CLARITY now and GENIUS last year, it feels like some history is being made for credit unions and other institutions and frankly, for the consumer too,” tying the markup to broader financial-services expectations.