The US CLARITY Act, which aims to provide the US crypto industry with greater regulatory transparency, is scheduled for a vote in the Senate Banking Committee on Thursday.
On Friday, Senate Banking Committee Chairman Tim Scott confirmed that the legislation would come up for a vote on Thursday, sparking a mighty reaction across the cryptocurrency industry that has been waiting for months for a modern margin date.
Work on the bill introduced in July 2025 was expected to continue earlier this year, but stalled in January after Coinbase withdrew its support for the legislation, citing several concerns, including a lack of legal protection for open source software developers. ban on stablecoin yieldsand regulation of decentralized finance (DeFi).
CLARITY Act Acts ‘Like Donkey Kong’: Coinbase CEO
“It works like Donkey Kong,” says Coinbase Chief Legal Officer Paul Grewel he said in post X on Friday, after the announcement. Meanwhile, Coinbase Chief Policy Officer Faryar Shirzad he said in post
Source: Faryar Shirzad
Uncertainty surrounding cryptocurrency regulation under Joe Biden, when cryptoskeptic Gary Gensler headed the U.S. Securities and Exchange Commission (SEC), has been linked to reports of crypto companies moving abroad to more cryptocurrency-friendly jurisdictions. Industry participants argued that this hurts U.S. innovation.
Cynthia Lummis, US senator and cryptocurrency supporter he said in post X: “Let’s throw the clarification bill out of the Banking Committee on Thursday!”
Industry executives predicted that tags would be introduced
This comes just a few days after Kara Calvert’s misdemeanor president of US politics on cryptocurrency exchange Coinbase told Consensus 2026 conference attendees that it expects “markers next week.”
Related: ‘Visible Flaws’ in Bitcoiners Mid-Bear Market Forecast: Analyst
Calvert said the bill needs at least 60 votes to pass in the Senate, and bipartisan support is needed for the CLARITY Act to become law.
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