The Information · White House · US Senate · CryptoSlate
CLARITY Act’s markup progress now hinges on these Democrat lawmakers
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The May 14 markup will show whether the crypto industry’s top legislative priority can attract enough bipartisan support to survive beyond committee.
Key facts
- Traders are watching CPI, Washington’s crypto vote and expiring put hedges as Bitcoin holds near $80,000 despite US-Iran tensions
- US spot Bitcoin ETFs have drawn $3 billion since early April, providing a strong macroeconomic tailwind for MSBT's zero-outflow first month
- Republicans hold 13 of the committee’s 24 seats, giving the bill a plausible path out of the panel if the party remains aligned
- The May 14 markup will show whether the crypto industry’s top legislative priority can attract enough bipartisan support to survive beyond committee
Summary
The CLARITY Act is heading back to the Senate Banking Committee on May 14 after months of stalled negotiations, putting a small group of Democrats at the center of the crypto industry’s push for a federal market-structure law. The markup comes after the bill was slowed by disputes over stablecoin rewards, anti-money laundering safeguards and ethics provisions. Those fights have turned a committee vote that Republicans may be able to win on numbers into a broader test of whether the measure can attract enough Democratic support to remain viable on the Senate floor. Republicans hold 13 of the committee’s 24 seats, giving the bill a plausible path out of the panel if the party remains aligned.