#Gate广场五月交易分享 CLARITY Act Clears the Senate Obstacle Course, Stablecoin Regulation Heads into the Final Sprint

The U.S. Senate Banking Committee is planning to vote on the Digital Asset Market Clarity Act (CLARITY Act) as early as May 14, 2026.
Multiple media outlets have reported that the vote is scheduled for 10:30 a.m. Eastern Time on May 14, at the Dirksen Senate Office Building. After the landmark cryptocurrency regulatory bill was held up in the Senate for months, it has finally reached a critical milestone.
The breakthrough came on May 1, 2026, when Senators Thom Tillis and Angela Alsobrooks reached a bipartisan compromise on stablecoin yield provisions. The agreement prohibits stablecoins from paying passive yields to holders—meaning holding USDC or USDT will not generate interest-like returns—however, rewards for activities related to trading, trading volume, or platform usage are still allowed.
Tim Scott, Chairman of the Senate Banking Committee, aims to complete markup before the Memorial Day recess on May 21, while the White House hopes the bill will be signed into law by the President on July 4—America’s 250th Independence Day—when it takes effect.
The CLARITY Act passed the U.S. House of Representatives in July 2025 by a bipartisan vote of 294 to 134, but afterward it stalled in the Senate over stablecoin yield issues.
Once enacted, the bill will clearly delineate the jurisdiction boundaries of the SEC and CFTC over digital assets, establish appropriate frameworks for exchanges and institutions, and put an end to years of regulation through enforcement.
The draft legislative text has been distributed to selected industry participants, and supporters are working to push the Senate full-floor vote after committee approval.
The Consensus conference held in Miami in 2026 featured record-breaking institutional participation. Among 20,000 attendees, 35% represented institutions managing approximately $10 trillion in assets. Senators Cynthia Lummis and Bernie Moreno warned at the event that if the bill cannot be advanced now, any meaningful cryptocurrency legislation could be delayed until 2030.
Ripple CEO Brad Garlinghouse predicted during the conference that the CLARITY Act would pass by the end of May.
Cody Carbone, CEO of the Digital Chamber, Senator Ashley Moody, and CFTC Chairman Michael Selig also attended the relevant meetings, emphasizing that policymakers and the digital asset industry are shifting toward continued engagement.
But opposition is strong as well: on May 4, 2026, the American Bankers Association (ABA) and the Bank Policy Institute (BPI) issued a joint statement formally opposing stablecoin yield provisions, warning that allowing stablecoins to offer rewards would create unfair competition with U.S. bank deposits.
There are also warnings within the community: before the markup review appears in the Senate’s official schedule, the timeline has not yet been confirmed.
Senators Thom Tillis and Angela Alsobrooks said they “agree to reserve their respective opinions” and will continue pushing the bill forward. If the Banking Committee advances the bill on May 14, both the House and the Senate will still need to reconcile their respective versions before it can be submitted for the President’s signature.
For the crypto industry, passage of the CLARITY Act would be a historic breakthrough. Once a clear regulatory framework is put in place, legal barriers to the inflow of institutional capital would be largely removed, and the trend of fund inflows into Bitcoin and Ethereum ETFs is also expected to be further strengthened. Conversely, if legislation is delayed again, market uncertainty will persist, and near-term volatility will be difficult to avoid.