Senate to mark up Clarity Act as 52% of voters back it
Senate Banking Committee will mark up the Clarity Act after sharing a draft with industry; a HarrisX poll finds 52% of voters support the bill.
The Senate Banking Committee plans to hold a formal markup of the Digital Asset Market Clarity Act after circulating a draft of the bill to select industry members. Committee staff shared the text ahead of a possible vote later this month.
Sources familiar with the draft say the bill’s language is still being finalized and that revisions are expected to reflect Democratic priorities. Several bracketed sections in the draft have drawn concern from industry reviewers who worry provisions thought settled could still change. One industry reviewer described the overall response as ‘positive so far’ while noting bracketed sections raised concerns.
Senators Thom Tillis and Angela Alsobrooks recently released a compromise on stablecoin yields. Multiple banking trade groups have argued the compromise does not resolve their regulatory and safety concerns.
Some Democratic negotiators are considering withholding support unless the committee version includes an ethics-related provision. Committee leaders plan to continue editing the text and resolving bracketed language before the markup session.
A HarrisX national survey released alongside the draft finds 52% of voters support the bill and 11% oppose it. The poll shows 37% of respondents would be more likely to support a senator who votes for the measure, 47% indicated they would consider voting across party lines on the issue, and support rises to 72% among respondents who identify as cryptocurrency holders.
If the Banking Committee approves the bill at markup, the measure would move to the full Senate for consideration, where further amendments and votes are likely. Lawmakers aim to produce a version acceptable to enough senators to clear the chamber and meet a White House target date of July 4.
