politics
Senate Banking Committee Advances Digital Asset Clarity Act With Over 130 Amendments Ahead of Markup
The Digital Asset Market Clarity Act, which passed the House in 2025, faces a Senate Banking Committee markup starting Thursday after Sens. Thom Tillis and Angela Alsobrooks reached a deal on stablecoin yield. Democrats are pushing ethics provisions related to President Trump’s crypto entanglements while more than 8,000 letters from the American Bankers Association criticize the compromise.
May 13, 5:11 PM·2m read1 source
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The Senate Banking Committee markup for the Clarity Act, also known as the Digital Asset Market Clarity Act, is scheduled to start on Thursday after the bill passed the House of Representatives in 2025. Members of the Senate Banking Committee filed over 130 proposed amendments ahead of the markup, according to a copy reviewed by Fortune. Sen.
Elizabeth Warren filed 44 proposed amendments on her own. Sens. Thom Tillis and Angela Alsobrooks reached a deal on stablecoin yield following an earlier setback. The Clarity Act nearly reached a Senate Banking markup earlier in 2026 before Coinbase pulled its support over a proposed ban on stablecoin rewards.
Bank lobbying groups say the Tillis-Alsobrooks yield compromise is too friendly to stablecoin companies. Members of the American Bankers Association sent more than 8,000 letters to Senate offices criticizing the yield compromise.
U.S. Regulatory framework for the crypto industry. , a Senate aide told Fortune. Democrats are expected to focus on ethical concerns related to President Trump’s crypto entanglements, a different Senate aide said.
Republicans and Democrats met multiple times this week to address adding ethics provisions into the Clarity Act. Democrats are pushing for ethics guardrails related to the Trump family’s crypto involvement. There are growing concerns amongst Democrats that if ethics is not included in the bill that is marked up in the Banking Committee, it will not be included at all, a Senate staffer said.
