The CLARITY Act is set for a markup on May 14, moving closer to a full committee vote on legislation that would set federal rules for digital assets. Coinbase chief policy officer Faryar Shirzad called the markup a 'big step forward' and essential for supporting innovation in the US.
What a markup means
A markup is a congressional committee meeting where lawmakers debate, amend, and vote on a bill before it can advance to the floor. For the CLARITY Act, the May 14 session will be the first time the bill is formally considered by the committee after months of behind-the-scenes negotiations. The date was set as part of the committee's spring agenda, though the exact start time has not yet been announced.
Shirzad's statement came after the schedule was confirmed. 'Big step forward,' he said. 'This is the kind of legislative process that the crypto industry has been waiting for—one that actually moves a bill through the committee.'
Why the bill matters
The CLARITY Act aims to create a national framework for crypto assets, replacing a patchwork of state laws and contradictory agency guidance. Proponents say the bill would give firms a single set of rules to follow, cutting compliance costs and encouraging startups to build in the US rather than moving overseas.
Critics have raised concerns about consumer protections and the bill's handling of stablecoins, but the markup will be the first chance for amendments on those issues. The committee chair has indicated that members will have time to propose changes during the session.
Coinbase's role
Coinbase has been one of the most vocal advocates for the bill. Shirzad's office has been in regular contact with committee staff, and the company has run ads in Washington DC urging lawmakers to pass the legislation. 'Innovation doesn't happen in a regulatory vacuum,' Shirzad said. 'The US risks falling behind if we don't act.'
The company's lobbying spend on crypto-related bills has increased sharply over the past year, though exact figures were not released. Coinbase has also pushed for clarity on whether tokens are securities or commodities—a question the CLARITY Act is designed to answer.
What happens next
If the bill passes the committee markup, it will head to the full House for a vote. Senate leaders have not yet scheduled companion legislation, meaning the timeline to law is still uncertain. The markup on May 14 will test whether the bipartisan support the bill has gathered so far can withstand amendments and debate.
The committee has not said how long the markup will last, but similar sessions have run for several hours or stretched across multiple days. For now, the crypto industry is watching the calendar.
