CLARITY Act Secures Senate Majority, Coinbase & Fidelity’s Support Ahead of Thursday’s Markup

The most-awaited CLARITY Act has secured a majority in the US Senate Banking Committee to pass the crypto market structure bill. Moreover, Fidelity, Coinbase, and other industry leaders support the Senate passing the Bitcoin and crypto bill, ensuring the US remains a global leader in digital assets.

The banking committee is set to vote today on the Clarity Act after months of closed-door negotiations. With agreements on most issues reached, the bill could advance to further negotiations and a full Senate floor vote. Notably, President Donald Trump aims to sign the CLARITY Act by July 4.

CLARITY Act Receives Majority Support in Senate Banking Committee

Bipartisan Senate negotiations over the two remaining CLARITY Act issues ended without an agreement, Eleanor Terrett reported on May 14. However, the Senate Banking Committee has reached a majority to move the crypto bill forward.

“I hope my colleagues across the aisle will work with me to get the remaining 1% resolved after we pass this bill out of committee,” said Senator Cynthia Lummis, a lead GOP negotiator. She added that prolonged talks could impact the crypto industry and “when or if another FTX happens, we will have no one to blame but ourselves.”

The holdups centered on Democratic Senators Adam Schiff and Ruben Gallego pushing to reach a compromise on an ethics provision involving the First Family ahead of Thursday’s CLARITY Act markup.

Meanwhile, other Democrats raised concerns about provisions in the Blockchain Regulatory Certainty Act (BRCA) that would protect non-custodial software developers from being treated as money transmitters.

Progress was made on ethics, but last-minute disagreements over BRCA changes ultimately prevented a bipartisan agreement with Democrats. Yet the crypto bill still advances with solid Republican backing on the committee.

Highlighting the urgency to pass the CLARITY Act, Senator Dave McCormick said, “Every day Congress fails to act on the CLARITY Act is another day that investment and digital asset innovation move overseas.” He called the passage at Thursday’s markup “imperative.”

The DeFi Education Fund urged supporters to contact senators before 10:30 a.m. ET to push back against anti-DeFi amendments that could harm developers and users.

Friendly reminder to contact your Senator before 10:30am ET *tomorrow* and urge them to protect software developers and DeFi 🤏 https://t.co/nkqjSTpxdf

— DeFi Education Fund (@fund_defi) May 14, 2026

Fidelity, Coinbase, Ripple Among Others Urging to Pass Crypto Bill

Coinbase CEO Brian Armstrong called the crypto bill “strong” and the passage of the CLARITY Act “closer than ever,” emphasizing that it would make the financial system faster, cheaper, and more accessible for everyday Americans.

“It will also ensure that the U.S. leads in the global race to build the next generation of our financial system,” he added, thanking the Senate, staff, and over 3.7 million Stand with Crypto advocates who helped push the legislation forward.

Even Coinbase CLO Paul Grewal posted a simple and powerful statement, “America needs CLARITY.” This comes amid over 100 amendments submitted to the committee, with Senator Warren proposing to block the Fed from issuing master accounts to crypto firms, including Ripple. The U.S. central bank already proposed the skinny master accounts, which it could soon issue to these crypto firms.

Tomorrow’s markup of the Digital Asset Market Clarity Act is a monumental step in making the U.S. the Crypto Capital of the World and maintaining America’s leadership in innovation. I applaud Chairman @SenatorTimScott and the Senate Banking Committee for working so hard to craft… https://t.co/sCCQzUmjBA

— David Sacks (@DavidSacks) May 13, 2026

$7 trillion asset manager Fidelity lauded the Senate Banking Committee for advancing a “balanced approach” that delivers statutory clarity to digital asset markets. The firm expressed support for advancing the CLARITY Act, highlighting the benefits for American investors and the financial industry.

Ripple CEO Brad Garlinghouse also praised the Senate Banking Committee’s leadership, noting that millions of Americans are already in the crypto market and deserve the same rules and protections as any other asset class. “If the largest economy in the world is going to lead on crypto—and it must—this is the moment,” he said.

Tomorrow’s markup of the Digital Asset Market Clarity Act is a monumental step in making the U.S. the Crypto Capital of the World and maintaining America’s leadership in innovation. I applaud Chairman @SenatorTimScott and the Senate Banking Committee for working so hard to craft… https://t.co/sCCQzUmjBA

— David Sacks (@DavidSacks) May 13, 2026