Senate Banking Takes Up Long-Delayed Crypto Bill
The U.S. Senate Banking Committee scheduled a May 14 executive session to consider H.R.3633, the Digital Asset Market Clarity Act of 2025, after months of delays and negotiations over crypto market oversight. The markup, which marks the Senate’s first formal committee debate over the legislation, is scheduled for 10:30 a.m. in Room 538 of the Dirksen Senate Office Building. Committee materials said live video will be available once proceedings begin.
Industry voices quickly lined up behind the CLARITY Act after the Senate Banking Committee scheduled its May 14 markup, framing the session as a long-awaited opening for federal digital asset rules following months of Capitol Hill negotiations.
That urgency has become a central theme for supporters as the Senate calendar tightens. Blockchain Association said the markup is a critical procedural step because the bill still requires a 60-vote threshold on the Senate floor, reconciliation with the Senate Agriculture Committee’s version, alignment with the House-passed bill, and a presidential signature before becoming law.
CLARITY Act Would Set Rules for Crypto Oversight
The legislation is designed to establish a federal framework for digital asset markets while emphasizing consumer protections, disclosure standards, and regulatory clarity for crypto firms. Supporters of the CLARITY Act said the bill would create clearer lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), while setting registration and operational requirements for brokers, dealers, and exchanges serving digital asset customers. The proposal also outlines disclosure obligations for developers and seeks to create legal pathways for digital asset fundraising and trading under federal oversight.
Faryar Shirzad, chief policy officer at Coinbase, tied the markup to the broader push for U.S.-based crypto regulation and said clear market structure rules are needed to protect consumers, support innovation, and keep development from moving offshore. He said on X:
“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, which advocates for policies supporting public blockchain networks, also described the notice as a major step for U.S. digital asset policy. Smith said years of advocacy, education, and engagement from builders helped drive the current policy momentum in Washington. She stressed: “The momentum in Washington is real, and so is the opportunity for the U.S. to lead the world in this technology.”
Blockchain Association stated: “The CLARITY Act would resolve something that has lingered for too long: which federal regulator governs digital asset markets, under what rules, and with what protections for investors and consumers.”
