Clarity Act Clears Senate Banking Committee 15-9, But Ethics Provisions Could Sink It

The Clarity Act passed a Senate Banking Committee markup vote 15-9, picking up some Democratic support — but analysts tracking the bill are cautioning that committee votes don't always translate to Senate floor passage. The sticking point is ethics language: provisions targeting politicians profiting from the crypto industry could deter President Trump from signing the bill, particularly given the Trump family's reported financial gains from crypto since he took office.

The White House has set a July 4 target for a signing, but the August recess is closing in fast. Stablecoin yield on active balances remains a live compromise on the table, though banks continue to push back. Guy from Coinbase flagged that expectations around the Clarity Act have shifted repeatedly, and expressed open skepticism about whether this version crosses the finish line.

Broader macro context is adding…