CLARITY Act Update: Senate Banking Committee to Notice a Crypto Bill Markup Today
Highlights
- US Senate Banking Committee set to issue CLARITY Act markup notice today.
- Draft legislative text is circulated to industry leaders ahead of potential vote next week.
- Strong bipartisan momentum builds for the Clarity Act after stablecoin yield compromise.
- Polymarket shows higher odds of crypto bill getting signed into law this year.
The latest CLARITY Act update shows major progress for US crypto regulations. The Senate Banking Committee is preparing to notice a markup for the Clarity Act by Friday, advancing from negotiations to the finalization phase.
The committee has circulated draft legislative text to banks and crypto industry leaders ahead of a possible vote next week. Surveys revealed positive support to the crypto bill from Democrats, Republicans, and Independants.
US Senate Banking Committee Advancing CLARITY Act Markup Notice
The US Senate Banking Committee is preparing to notify members about a markup for the CLARITY Act as soon as today, according to an X post by former Fox Business reporter Eleanor Terrett.
The committee has already circulated draft legislative text to select representatives from the banking and crypto industries. This comes as Senators Thom Tillis and Angela Alsobrooks finalize a stablecoin yield compromise.
The Senate Banking Committee is likely to announce the official date for the meeting ahead of a potential vote as soon as next Thursday. It follows months of delays due to negotiations over key provisions, especially related to stablecoin yields and rewards.
During the potential CLARITY Act markup next week, members will finalize the legislative text after reviewing, amending, and editing language before the crypto bill goes to the full Senate vote. According to Terrett, additional edits are expected to reflect priorities from Democratic offices.
Bipartisan Support for the Crypto Bill’s Legislative Text
Industry sources have revealed that the current language is receiving overall positive feedback. However, some bracketed sections of the CLARITY Act remain under discussion, with banks still opposing the stablecoin yield compromise.
As CoinGape reported, HarrisX’s national survey revealed strong bipartisan support for passing the CLARITY Act. Notably, 52% of voters support the crypto bill, with just 11% opposing it. Moreover, the majority of Democrats, Republicans, and Independents are urging clear crypto regulations and strong customer protections.
White House crypto advisor Patrick Witt stated that the poll is a must-read for every policymaker and elected official working on the CLARITY Act. Meanwhile, Witt and Senator Bernie Moreno confirmed that President Trump could sign the crypto bill into law by July 4.
Polymarket data shows there’s currently a 65% chance the CLARITY Act is signed into law this year. Robinhood CEO Vlad Tenev said “There’s real momentum now to finally get CLARITY across the finish line. One more small push and we establish the legislative foundation to ensure American dominance in digital finance.”
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