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Senate Sets May 14 CLARITY Act Markup as Banks Press for Tighter Stablecoin Rules
The Senate Banking Committee scheduled a May 14 markup for the CLARITY Act, moving the stalled crypto market-structure bill toward a committee vote. The hearing will test a compromise on stablecoin-linked incentives as banking groups push for tighter language and crypto firms argue ordinary customer rewards should remain allowed. Any text approved by the panel would still need to be reconciled with the Senate Agriculture Committee’s work before reaching the Senate floor.