The Senate Banking Committee is scheduled to mark up the Digital Asset Market Clarity Act on Thursday at 10:30 AM EST in the Dirksen Senate Office Building. The bill, which cleared the House last summer but stalled in the upper chamber, now carries a 73% probability of becoming law in 2026 according to Polymarket — up sharply from 46% at the start of May. The White House has set a July 4 target for signing it into law.
What the Bill Would Do
The Clarity Act aims to establish clearer regulatory standards for the digital asset industry. According to Grayscale, the legislation would affect nearly every segment of the sector, replacing the current patchwork of enforcement actions with a defined legal framework. Zach Pandl, Grayscale Head of Research, said the act can catalyze innovation and capital formation by replacing uncertainty with a legal framework.
Last-Minute Push for Revisions
Banking trade groups are pressing for changes to a yield compromise brokered by Senators Thom Tillis and Angela Alsobrooks. The groups want further restrictions on stablecoin issuers offering rewards to holders, a provision that has become a flashpoint in the negotiations. Draft text of the Clarity Act was circulated to select industry members ahead of the markup, reporter Eleanor Terrett confirmed, suggesting the final language is still being tweaked.
White House Timeline
The Biden administration has set an ambitious July 4, 2026 deadline for the bill to reach the president’s desk. That timeline leaves roughly seven weeks after the markup for the Senate to pass the bill and reconcile any differences with the House version — a tight window given the complexity of the negotiations still underway.
The markup itself will reveal whether the Tillis-Alsobrooks compromise holds or if banking groups succeed in tightening the stablecoin reward rules. Thursday’s proceedings will also test whether the 73% Polymarket odds reflect actual political momentum or just market speculation.
