Senate Banking Committee to mark up CLARITY Act May 14

The Senate Banking Committee has scheduled an executive session for May 14 to mark up H.R.3633, the Digital Asset Market Clarity Act of 2025. The session is set to begin at 10:30 a.m. in Room 538 of the Dirksen Senate Office Building. Committee materials say live video will be available once proceedings start.

Lawmakers will debate proposed amendments and vote on whether to advance the bill to the full Senate. The markup is the panel’s first formal committee debate on federal rules for digital-asset market structure after months of delays and negotiations on Capitol Hill.

The CLARITY Act would create a federal framework for digital-asset markets. The measure seeks to define which regulator oversees different parts of the market, establish registration and operational requirements for brokers, dealers and exchanges that serve digital-asset customers, set disclosure duties for developers, and provide legal pathways for fundraising and trading under federal oversight. The bill also includes consumer-protection and disclosure standards.

Industry groups reacted quickly to the scheduled session. The Blockchain Association said the CLARITY Act would resolve which federal regulator governs digital-asset markets and under what rules. The group noted several steps remain before the legislation could become law, including reaching a 60-vote threshold on the Senate floor, reconciling the Banking Committee version with a Senate Agriculture Committee draft, aligning language with the House-passed bill, and obtaining the president’s signature.

Faryar Shirzad, chief policy officer at Coinbase, wrote on X that the markup is a “Big step forward … Clear market structure rules are essential for protecting consumers, supporting innovation, and ensuring this technology develops in the United States rather than offshore.” Kristin Smith, president of the Solana Policy Institute, wrote that years of advocacy from builders helped drive the policy movement and added, “The momentum in Washington is real, and so is the opportunity for the U.S. to lead the world in this technology.”

If the Banking Committee approves the bill, negotiators will need to bridge differences with the Senate Agriculture Committee’s version and reconcile the measure with the House bill before the Senate can take final action. The markup begins the formal committee process toward producing federal rules for digital assets.