Senate schedules CLARITY Act markup for May 14 — stablecoin regulation inches toward the finish line!

The U.S. Senate has scheduled a markup session for the CLARITY Act on May 14, a significant procedural step that could finally push stablecoin legislation out of committee after months of gridlock. The move follows a reported deal breakthrough, with new language from Senators Tillis and Alsobrooks dropping just ahead of the session.

The Tillis-Alsobrooks amendment is widely seen as the deciding factor: if the revised text satisfies the banking-aligned holdouts who stalled earlier drafts, the bill advances to a full Senate vote; if it doesn't, the legislation risks another committee stall that could push comprehensive stablecoin rules into 2027.

Bankers are paying close attention because the CLARITY Act would establish a federal licensing framework for stablecoin issuers, directly affecting how banks can compete with — or partner with — crypto-native issuers. The markup date puts real…