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Senate Sets May 14 CLARITY Act Markup Amid Bank and Democratic Pushback
The Senate Banking Committee set May 14 for a CLARITY Act markup that will decide whether the bill advances toward a full Senate vote. The bill would split digital asset market oversight between the SEC and CFTC, with stablecoins treated as a separate category under shared oversight. Major banks are lobbying against the measure, and Democrats are threatening to withhold support unless ethics limits on crypto holdings by public officials are added.