Senate set to mark up CLARITY Act May 14 as banks lobby to block bill and crypto groups push reforms

The Senate Banking Committee will mark up the CLARITY Act on May 14 as lawmakers weigh rules for stablecoins and broader crypto oversight, a step senators and industry advocates say is pivotal for U.S. digital-asset policy ^{[1] [2]}.

The U.S. banking lobby has launched a last-minute push to slow or block the bill ahead of the committee action, with groups including the American Bankers Association, the Bank Policy Institute and the Consumer Bankers Association pressing lawmakers to oppose the measure ^[3].

Crypto firms and trade groups welcomed the scheduled markup, characterizing it as a restart of efforts to address market structure, jurisdiction and consumer protections; some industry participants said they backed compromises on stablecoin yield rules reached in recent talks ^{[4] [2]}.

The May 14 markup will be closely watched by banks, crypto firms and policymakers because its outcome could determine the regulatory framework for stablecoins and other digital assets in the U.S ^{[1] [4]}.