The Senate Banking Committee will hold its markup hearing for the Digital Asset Market Clarity Act of 2025-known as the Clarity Act-on Thursday, May 14 at 10:30 a.m. ET.
The bill had stalled after Coinbase CEO Brian Armstrong withdrew support in January over stablecoin yield provisions. Last week, Senators Thom Tillis and Angela Alsobrooks released a compromise text that bans yield on static stablecoin reserves but permits rewards for active stablecoin use.
Banking trade groups, including the American Bankers Association and the Bank Policy Institute, said the text needs more work to protect consumers while embracing innovation.
Despite these objections, scheduling the markup signals leadership is ready to advance the current version. Senator Kirsten Gillibrand has insisted the bill must include an ethics provision barring senior officials from profiting off crypto while regulating it. That issue may be addressed later when the Senate merges the Banking version with the Agriculture Committee's bill.