The Senate Banking Committee has scheduled a markup hearing for the Digital Asset Market Clarity Act of 2025 (Clarity Act) on Thursday, May 14, 2026. The bill had stalled after Coinbase withdrew support over stablecoin yield provisions in January. A compromise text was released last week, reportedly resolving yield issues by prohibiting yield on static stablecoin reserves but allowing rewards for active stablecoin use. Banking groups, however, expressed concerns and submitted recommendations, stating more work is needed to balance innovation and consumer protection. The scheduled markup suggests lawmakers are moving forward despite unresolved concerns. Senator Kirsten Gillibrand continued to push for an ethics provision that would bar senior government officials from profiting from the crypto industry while regulating it—a stance supported by 73% of registered voters according to CoinDesk-commissioned polling. This issue may not be addressed in the Banking Committee version; the bill must later be merged with the Senate Agriculture Committee's version before a full Senate vote. For wallet and key holders, the Clarity Act aims to establish clear market structure rules for digital assets, potentially reducing regulatory uncertainty. While the markup signals progress, outstanding issues like stablecoin yield definitions and ethics provisions mean the final legislation may still evolve. Users should monitor updates, as regulatory clarity could affect how exchanges and DeFi platforms operate, impacting asset custody and key management practices.

Key facts

• Clarity Act markup hearing set for May 14, 2026 at 10:30 a.m.
• Compromise text on stablecoin yield resolved Coinbase's objection from January.
• Banking groups expressed concerns and submitted detailed recommendations.
• Senator Gillibrand seeks ethics provision barring official profit from crypto.
• Bill faces merger with Senate Agriculture version before full Senate vote.

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