CLARITY Act Gains Bipartisan Support Ahead of Senate Banking Committee Markup

The US Senate Banking Committee is set to hold a markup session for the CLARITY Act on May 14, marking a key step for the crypto industry's long-awaited regulatory framework. The bill, which passed the House in July 2025, has seen delays due to disagreements between crypto and banking lobbies, particularly over stablecoin interest payments. According to the source, the two groups have now reached an agreement, paving the way for the markup.

Support for the bill appears bipartisan, though mostly from Republican members. Committee Chairman Tim Scott has led the effort, aiming to make the US the crypto capital of the world. Other Republican supporters include Mike Crapo, Mike Rounds, Thom Tillis, John Neely Kennedy, Bill Hagerty, Cynthia Lummis, Katie Britt, and Pete Ricketts. All have received an A grade from Coinbase's Stand With Crypto advocacy platform for their pro-crypto voting records.

Many of these senators have also supported related legislation, such as the GENIUS Act for stablecoins and resolutions against IRS data collection on DeFi services. Senator Lummis has sponsored the Blockchain Regulatory Certainty Act to clarify that blockchain developers are not money transmitters. Several have framed crypto regulation as a matter of national competitiveness.

However, the path to passage remains uncertain. Amendments could be introduced during the markup, and the bill still needs to be reported to the Senate floor. The markup session will test the level of support and potential hurdles.