Trending Now - Crypto Market Structure Bill Faces Key Challenges Ahead of Markup

WHO:

CoinDesk - White House crypto adviser Patrick Witt stated that the administration is aiming for a July 4 finish for the CLARITY Act.

CoinDesk - Senator Kirsten Gillibrand emphasized that Democrats won't allow the bill to move without an ethics provision.

CoinDesk - Senator Elizabeth Warren criticized the bill, stating, "This bill puts investors, our national security and our entire financial system at risk — and it will turbocharge Donald Trump’s crypto corruption."

CoinDesk - White House crypto adviser Patrick Witt stated that the administration is aiming for a July 4 finish for the CLARITY Act.

CoinDesk - Senator Kirsten Gillibrand emphasized that Democrats won't allow the bill to move without an ethics provision.

CoinDesk - White House crypto adviser Patrick Witt stated that the administration is aiming for a July 4 finish for the CLARITY Act.

CoinDesk - Senator Kirsten Gillibrand predicted the completion of the CLARITY Act by the first week of August.

CoinDesk - Coinbase CEO Brian Armstrong stated, "Not everyone got everything they wanted, but they got the must-haves."

CoinDesk - The DeFi Education Fund expressed encouragement regarding the bill's direction, noting that "the most important provisions for developers and infrastructure providers — the BRCA and protections under the Exchange Act — are in this bill."

CoinDesk - Committee Chairman Tim Scott stated, "This bill reflects serious, good-faith work across the committee and delivers the certainty, safeguards, and accountability Americans deserve."

CoinDesk - Senator Kirsten Gillibrand emphasized that Democrats won't allow the bill to move without an ethics provision.

Bitcoinist - The Senate Banking Committee is involved in the markup of the CLARITY Act.

Cointelegraph - Seven Democrats are seen as key to advancing the CLARITY Act.

WHAT:

CoinDesk - The newly released 309-page text of the CLARITY Act includes contentious language on stablecoin yield and maintains legal protections for decentralized finance (DeFi) developers.

CoinDesk - The bill restricts the payment of interest or yield "solely in connection with the holding of ... payment stablecoins."

CoinDesk - Research from Galaxy indicated that "trillions of dollars worth of foreign capital will flow into the U.S. financial system," suggesting that "a majority of stablecoin growth will originate offshore."

CoinDesk - The newly released 309-page text of the CLARITY Act includes contentious language on stablecoin yield and maintains legal protections for decentralized finance (DeFi) developers.

CoinDesk - The bill restricts the payment of interest or yield "solely in connection with the holding of ... payment stablecoins."

CoinDesk - The legislation still includes a section to match DeFi's Blockchain Regulatory Certainty Act, which protects software developers that don't control people's money from being treated as money transmitters.

CoinDesk - The newly released 309-page text of the CLARITY Act includes a restriction on the payment of interest or yield "solely in connection with the holding of ... payment stablecoins" or on a stablecoin balance "in a manner that is economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit."

CoinDesk - The newly released 309-page text of the CLARITY Act includes contentious language on stablecoin yield and maintains legal protections for decentralized finance (DeFi) developers.

CoinDesk - The bill restricts the payment of interest or yield "solely in connection with the holding of ... payment stablecoins."

Bitcoinist - The Senate Banking Committee is scheduled to hold a markup on the CLARITY Act.

Cointelegraph - The CLARITY Act was introduced in July 2025 and has faced significant delays and setbacks.

WHERE:

Bitcoinist - The markup is taking place in Washington.

WHEN:

NewsBTC - The Senate markup of the CLARITY Act is scheduled for Thursday, May 14, 2026, at 10:30 AM ET.

Bitcoinist - The markup for the CLARITY Act is scheduled for Thursday, May 14.

Cointelegraph - The CLARITY Act was introduced in July 2025.

WHY:

CoinDesk - Senator Elizabeth Warren criticized the bill, stating, "In just one year in office, the president and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that."

Cointelegraph - The bill stalled in January after Coinbase withdrew its support due to concerns about legal protections and stablecoin yields.

HOW:

CoinDesk - The conflict-of-interest section that would theoretically limit government officials from profiting from the crypto industry is not under the jurisdiction of the banking panel, so the topic has to get into the legislation later.

CoinDesk - The committee's ranking Democrat, Senator Elizabeth Warren, made clear that the ethics point is a priority, releasing a critical comment alongside the panel's unveiling of the document.

CoinDesk - The White House's crypto adviser Patrick Witt mentioned that the current negotiating posture is to establish rules that apply "across the board, from the president all the way down to the brand new intern on Capitol Hill."

CoinDesk - The White House's crypto adviser Patrick Witt mentioned that the administration is aiming for a July 4 finish for the CLARITY Act, while Senator Gillibrand predicted its completion by the first week of August.

Cointelegraph - The markup was pushed back following extended battles within the Senate Banking Committee.

(UPDATED May 12, 2026 21:23 UTC)

The White House crypto adviser Patrick Witt announced that the administration is targeting a July 4 finish for the CLARITY Act, while Senator Kirsten Gillibrand emphasized that Democrats will not allow the bill to progress without an ethics provision. The newly released 309-page text of the bill includes contentious language regarding stablecoin yield and maintains legal protections for decentralized finance developers, but it restricts the payment of interest solely in connection with holding payment stablecoins. The Senate markup of the CLARITY Act is set for Thursday, May 14, 2026, amid criticism from Senator Elizabeth Warren, who pointed out that the bill lacks provisions to prevent government officials from profiting from the crypto industry.

(UPDATED May 12, 2026 15:52 UTC)

The White House crypto adviser Patrick Witt announced that the administration is targeting a July 4 finish for the CLARITY Act, which has drawn attention for its contentious provisions on stablecoin yield and protections for decentralized finance developers. Senator Kirsten Gillibrand emphasized that Democrats will not allow the bill to progress without an ethics provision, while Senator Elizabeth Warren criticized it for potentially jeopardizing investors and national security. The Senate markup of the CLARITY Act is set for Thursday, May 14, 2026, at 10:30 AM ET, but the conflict-of-interest section aimed at limiting government officials from profiting in the crypto industry will need to be addressed later, as it falls outside the banking panel's jurisdiction.

(UPDATED May 12, 2026 13:32 UTC)

The White House crypto adviser Patrick Witt announced that the administration is targeting a July 4 finish for the CLARITY Act, while Senator Kirsten Gillibrand expects it to be completed by the first week of August. The newly released 309-page text of the CLARITY Act includes a restriction on the payment of interest or yield related to payment stablecoins, aiming to regulate how these financial instruments operate. Additionally, Senator Elizabeth Warren emphasized the importance of ethics in the process, releasing a critical comment as the committee unveiled the document.

(UPDATED May 12, 2026 11:37 UTC)

Coinbase CEO Brian Armstrong commented on the newly released 309-page text of the CLARITY Act, stating that while not everyone got everything they wanted, they did secure the must-haves. The DeFi Education Fund expressed encouragement about the bill's direction, highlighting that key provisions for developers and infrastructure providers are included, while Senator Elizabeth Warren criticized the bill for lacking measures to prevent potential conflicts of interest related to crypto gains. White House crypto adviser Patrick Witt noted that the goal is to establish comprehensive rules that apply universally, from the president to new interns on Capitol Hill.

(UPDATED May 12, 2026 07:51 UTC)

Committee Chairman Tim Scott stated that the newly released 309-page text of the CLARITY Act reflects serious, good-faith work across the committee and delivers the certainty, safeguards, and accountability Americans deserve. However, Senator Kirsten Gillibrand emphasized that Democrats will not allow the bill to move forward without an ethics provision, while Senator Elizabeth Warren criticized it for putting investors and the financial system at risk. The White House's crypto adviser Patrick Witt mentioned that the administration is aiming for a July 4 finish for the CLARITY Act, with Senator Gillibrand predicting its completion by the first week of August.

(UPDATED May 12, 2026 01:31 UTC)

The Senate Banking Committee is set to hold a markup on the CLARITY Act in Washington on Thursday, May 14. This legislation, introduced in July 2025, has faced significant delays, particularly after Coinbase withdrew its support in January over concerns regarding legal protections and stablecoin yields. Seven Democrats are considered crucial for advancing the bill as it moves forward in the committee.