Senate Banking Committee members have filed greater than 100 proposed amendments to the Digital Asset Market Readability Act, in line with Politico reporting. The panel is ready to convene on Thursday for a long-awaited markup vote that crypto and trade leaders say may reshape digital asset regulation in america.
The committee scheduled its govt session for 10:30 a.m. on Might 14 at Room 538 of the Dirksen Senate Workplace Constructing in Washington, D.C., the place lawmakers will debate the amendments and vote on whether or not to ship the invoice to the total Senate flooring.
The flood of filings follows the discharge of an up to date 309-page draft of the invoice earlier this week, expanded from the 278-page model proposed in January.
Senator Elizabeth Warren leads the opposition push, submitting greater than 40 amendments alone, with the majority of proposed adjustments coming from Democratic members of the Banking Committee.
The wave of filings mirrors the January markup session, which drew 137 amendments earlier than that session was cancelled, signaling that resistance to the invoice stays robust whilst its supporters push for a ultimate vote.
On the middle of the dispute is how the invoice handles stablecoin yield merchandise — crypto that supply returns to holders. Banking teams argue such crypto merchandise threaten conventional deposit bases; crypto companies counter that reward packages assist liquidity and buyer exercise with out functioning as financial institution deposits.
The American Bankers Affiliation has despatched greater than 8,000 letters to Senate workplaces since final Friday, concentrating on the stablecoin yield compromise brokered by Senators Thom Tillis and Angela Alsobrooks. That compromise, reached after months of negotiations, prohibits stablecoin issuers from paying curiosity or yield to customers who maintain tokens passively, whereas preserving exceptions for rewards tied to real platform transactions and cost exercise.
Senators Jack Reed and Tina Smith filed amendments to tighten these requirements additional, concentrating on merchandise that ship returns in ways in which resemble conventional interest-bearing deposit accounts.
The banking foyer maintains the present compromise language nonetheless leaves room for stablecoin platforms to copy high-yield financial savings merchandise with out assembly bank-level regulatory necessities.
Senate ethics provisions and developer protections
Senator Chris Van Hollen launched a proposal that might prohibit senior authorities officers and their households from proudly owning or selling crypto-related companies — a requirement Democrats say is non-negotiable given President Trump’s shut ties to the crypto trade.
Republican sponsors have resisted the availability, with some warning that ethics riders may fracture the coalition wanted for the invoice to advance.
A current draft of the invoice already included language shielding noncustodial builders from being categorized as cash transmitting companies, with that safety prolonged retroactively to cowl previous conduct.
The broader stakes for the crypto trade
The CLARITY Act, formally H.R. 3633, handed the Home on July 17, 2025, by a 294–134 bipartisan vote earlier than stalling within the Senate by way of two cancelled markup classes and protracted stablecoin negotiations.
At its core, the invoice would draw a transparent jurisdictional line between the Securities and Trade Fee and the Commodity Futures Buying and selling Fee, ending years of enforcement-based policymaking that left crypto companies working below authorized ambiguity.
Prediction markets have priced the chances of the invoice turning into legislation in 2026 roughly at 60%, the best degree in months, with the White Home setting a July 4 goal for a presidential signature.
Committee Chairman Tim Scott had initially focused a Senate flooring vote for September 2025, then pushed that deadline to end-of-year, and most lately stated he hoped to achieve a full Senate vote by June or July 2026.
Thursday’s markup is the primary formal committee vote on the invoice within the Senate, and its consequence will decide whether or not that timeline continues to be inside attain.