#CLARITY法案参议院通关 On May 14, 2026, the U.S. Senate Banking Committee voted with a historic result of 15 in favor and 9 against, passing the "Digital Asset Market Clarity Act" (CLARITY Act), marking a milestone in the United States' effort to establish a comprehensive regulatory framework for cryptocurrencies.

This approximately two-and-a-half-hour hearing was the result of months of negotiations and bargaining. Parties reached a key compromise on stablecoin yields on May 1, with the bill ultimately stipulating: prohibiting interest payments on "passively held" stablecoins to appease the banking industry, but allowing users to earn rewards through active behaviors such as trading and staking. This mechanism cleared the main obstacle to the bill's progress. Additionally, the bill includes provisions aimed at ending the jurisdictional dispute between the SEC and CFTC, providing legal protections for DeFi protocol developers, and establishing a "safe harbor" for small crypto businesses seeking funding.

The vote strictly followed party lines, with all 13 Republican members voting in favor. The only two Democrats supporting cross-party were Ruben Gallego from Arizona and Angela Alsobrooks from Maryland. At the voting site, senior Democratic Senator Elizabeth Warren sharply criticized the bill as "written by the cryptocurrency industry to serve the cryptocurrency industry," and her and her colleagues' 12 proposed amendments were all rejected by Republicans using procedural advantages.

While this passage removes a key obstacle, it is far from the end; two major uncertainties remain:

First, the legislative process remains lengthy. The next step is to merge the bill with the version from the Senate Agriculture Committee before submitting it to a full Senate vote. The full Senate vote must first overcome a difficult "procedural hurdle"—requiring 60 votes to end debate—before moving to the final vote, which is a significant challenge given the current deep partisan divide.

Second, there are hidden variables behind political commitments. Senator Alsobrooks, who cast a crucial supporting vote, immediately issued a statement emphasizing that the committee’s approval is not a final commitment, and pointed out three core issues still to be resolved: "concerns from law enforcement agencies about regulatory gaps in financial crime oversight, ethics clauses applicable to all elected officials (including the President), and the merger with the Senate Agriculture Committee version."

As the bill moves to a full Senate vote, the White House has set a target signing date of July 4. Before the midterm elections—a hard deadline—this bill, which will determine the future of U.S. cryptocurrency regulation, has shifted its greatest uncertainty from earlier clause negotiations to procedural political battles in the Senate.