The Senate Banking Committee is preparing to schedule a markup session for the Digital Asset Market Clarity Act, with a possible committee vote as early as Thursday. Draft legislative text has been shared with select industry members, but the language is still being finalized — and Democratic priorities could still reshape key sections.
The Thursday markup
Committee leadership is eyeing a vote this week. But the bill's text reportedly remains in flux, with additional revisions expected to incorporate demands from Senate Democrats at the negotiating table. Some bracketed sections in the draft have raised worries inside the industry that provisions thought settled might still be up for grabs.
Democratic holdouts
Democrats are considering withholding support unless the version voted on includes an ethics-related provision. That demand adds a new layer of uncertainty to a bill that already cleared the House back in July. The exact language of the ethics measure hasn't been made public yet.
Stablecoin compromise still shaky
Senators Thom Tillis and Angela Alsobrooks recently released a compromise on stablecoin yields, but five major U.S. banking lobbies argued the text still falls short. The pushback from traditional finance suggests the yield issue isn't resolved — even after a bipartisan attempt to bridge the gap.
Political pressure builds
A HarrisX national survey shows 52% of voters support the bill, with only 11% opposed. Nearly 47% of respondents said they could vote across party lines to back a pro-Clarity Act senator; among cryptocurrency holders, that figure jumps to 72%. Lawmakers face a White House deadline of July 4 to deliver a bill, so the clock is ticking.
