CLARITY Act markup could happen as early as next week; tax reporting and 60‑vote threshold highlighted

first published 2026-05-07T12:07:38Z

Administration aims for Senate Banking Committee markup in May, Senate floor vote in June and House passage of the Digital Asset Market Clarity Act before July 4, 2026. Senators Thom Tillis and Angela Alsobrooks agreed to stablecoin-yield language that bars bank-deposit-equivalent yields but permits activity-based rewards tied to spending. Industry and officials gave mixed reads: Coinbase legal chief Paul Grewal said passage this summer is likely, Senate Banking Chair Tim Scott described the bill as in the “red zone,” Sen. Kirsten Gillibrand warned completion could slip to early August, and Ripple CEO Brad Garlinghouse said the next two weeks are critical for markup. White House adviser Patrick Witt said the bill is vital for U.S. leadership in digital assets.

AI Analysis

The story contains a concrete, near-term legislative timeline (Senate markup in May, Senate vote in June, House passage target by July 4) and a specific policy compromise on stablecoin yields (bars bank-deposit-equivalent yield, allows activity-based rewards). Market actors (Coinbase, Scott, Gillibrand, Garlinghouse) gave mixed but substantive signals about passage timing.

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