Senate Banking Committee schedules Clarity Act markup for May 14 — crypto market structure bill moves forward!

The Senate Banking Committee has scheduled its long-awaited markup hearing for the Digital Asset Market Clarity Act of 2025 on Thursday, May 14 at 10:30 a.m., signaling that lawmakers are ready to push the bill forward despite lingering industry objections. The markup is a critical legislative milestone — it's the formal step at which the committee votes to advance a bill toward a full Senate floor vote.

The Clarity Act had been stalled since January, when Coinbase CEO Brian Armstrong withdrew the exchange's support over stablecoin yield provisions. A compromise brokered last week by Senators Thom Tillis and Angela Alsobrooks would prohibit yield on static stablecoin reserve holdings while permitting rewards tied to active stablecoin use — a distinction that appears to have unlocked the committee's willingness to proceed. Major banking trade groups, including the American Bankers…