# The Senate Banking Committee debates over 100 amendments before deciding whether to advance the 309-page Digital Asset Market CLARITY Act to the full Senate floor.

*web3 · news · 2026-05-14 · The Economic Times*

## Key points

- A bipartisan deal banning passive yield on stablecoins led to renewed support for the CLARITY Act.
- Senator John Kennedy's vote is pivotal for advancing the CLARITY Act markup in committee.
- The CLARITY Act formally defines SEC and CFTC jurisdiction over digital assets in statutory law.
- Enforceable crypto regulations will not arrive before late 2027 to 2028 due to rulemaking delays.
- American Bankers Association sent over 8,000 letters opposing the bill's stablecoin compromise.

**Companies:** Coinbase
**Countries:** United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/news/international/us/senate-clarity-act-vote-today-can-congress-finally-end-sec-crypto-chaos-with-historic-u-s-crypto-regulation-bill/articleshow/131093793.cms)

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