Senate Banking Committee Releases Clarity Act Draft, Reopens Debate on Stablecoins and DeFi as Crypto Prices Rise

The U.S. Senate Banking Committee published the full legislative draft of the Clarity Act and distributed the text ahead of this week’s committee hearing and markup vote, making the bill available to the public after circulating earlier behind closed doors ^{[1] [2]}.

The revised draft reopens negotiations on key policy areas including stablecoin oversight, protections for decentralized finance (DeFi) participants, and ethics rules governing federal officials’ crypto activities, according to the committee’s released text and accompanying statements ^{[3] [1]}.

Market participants reacted quickly to the release: traders responded and crypto prices moved higher following publication of the draft, according to industry reporting ^[4].

The next procedural step is a committee markup vote this week, where senators will consider the released draft and any amendments before moving the measure forward ^{[3] [1]}.