The Information · Donald Trump · Michael Saylor · Cynthia Lummis · CLARITY Act · US Senate · CryptoSlate
How CLARITY Act survived a chaotic Senate markup after Warren, Banks and Democrats tried to slow it down
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Clarity Act faced a gauntlet of last-minute objections over national security, stablecoin yields, and Trump's personal wealth.
Key facts
- Ultimately, the bill cleared the Senate Banking Committee in a 15-9 vote after a gauntlet of last-minute objections
- The 15-9 vote successfully moves the Digital Asset Market Clarity Act to the Senate floor, but the “tick-tock” of the day suggests a rocky future
- Warren specifically highlighted that President Donald Trump and his family have reportedly amassed $1.4 billion in gains from crypto deals since taking office last year
- Traders are watching whether Bitcoin can defend $78,000 after hotter US inflation data interrupted its recovery from April lows
Summary
Inside a packed Senate hearing room on May 14, the air was heavy with the tension of a high-stakes jurisdictional brawl on the CLARITY Act. What was intended to be a routine legislative markup became a grueling “tick-tock” of procedural maneuvering, personal barbs, and a desperate search for a bipartisan middle ground. Ultimately, the bill cleared the Senate Banking Committee in a 15-9 vote after a gauntlet of last-minute objections. However, the path to that victory was defined by a series of sharp clashes between pro-crypto Republicans and a Democratic wing led by Senator Elizabeth Warren, who challenged the hearing’s “good governance” framing within the first hour.