The CLARITY Act faces a critical Senate hurdle today: 130 amendments, 8,000 opposition letters from banks, and Polymarket prediction odds of passage at only 60%.

📄Full Article· Automatically extracted by trafilaturaGemini 翻譯1769 words

According to Fortune, the CLARITY Act enters Senate Banking Committee markup today (14th), having accumulated over 130 amendments, with Elizabeth Warren alone proposing 44. The banking industry, worried that stablecoin rewards will siphon away deposits, has sent 8,000 opposition letters. Polymarket's prediction for passage this year has dropped to 60%. (Background: U.S. Treasury Secretary Bessent: Stablecoin market cap will exceed $2 trillion, GENIUS Act leads new era) (Background: U.S. House launches "Anti-Crypto Corruption Week": Democrats oppose GENIUS and CLARITY Acts, Trump self-dealing!) Investigation reveals that the U.S. crypto regulation milestone, the CLARITY Act, enters critical review at the Senate Banking Committee today, but this is not a simple "pro-crypto" victory. Behind the legislation lurk three political bombshells: whether stablecoin rewards amount to disguised deposit competition, whether market structure legislation opens a backdoor for industry expansion, and the ethical red lines surrounding the Trump family's crypto businesses. The Senate Banking Committee has received over 130 amendments, and the banking industry has launched an 8,000-letter offensive in an attempt to kill the stablecoin yield provisions. Senator Tim Scott (Republican, South Carolina) and Senator Elizabeth Warren (Democrat, Massachusetts) at Fortune's latest Senate Banking Committee meeting The CLARITY Act is a landmark piece of legislation aimed at establishing a regulatory framework for the U.S. crypto industry. The bill enters Senate committee markup procedures starting Thursday. Its prospects for passage have boosted investor sentiment, but significant hurdles remain before Congress can send the bill to President Trump's desk. CLARITY is short for the Digital Asset Market Clarity Act. The bill passed the House last year but encountered resistance at the Senate Banking Committee, due to disputes between banks and stablecoin companies over whether stablecoin balances can pay rewards and when they can be paid. Now, as senators prepare to introduce amendments, Democrats are pushing to add ethics restriction provisions related to the Trump family's crypto businesses. According to a copy of proposed amendments reviewed by Fortune, ahead of Thursday's markup, Senate Banking Committee members have submitted over 130 proposed amendments, with Senator Elizabeth Warren alone submitting 44. Some of the proposed amendments are minor, but others attempt to advance the positions of the bill's opponents. These opponents include banking industry interests worried that stablecoins will erode the bank deposit base, as well as those concerned that crypto industry expansion comes with ethical and national security risks. "I think it will pass, based on the progress currently being made in both chambers of Congress and the White House's support for this bill," Steve Yelderman, general counsel at the Ethereum-focused advocacy group Etherealize, told Fortune. "That said, this is Washington, and anything can happen." Earlier this year, the CLARITY Act came close to entering Senate Banking Committee markup, but Coinbase withdrew its support for the bill due to a proposed stablecoin rewards ban. Since then, Senator Tom Tillis (Republican, North Carolina) and Senator Angela Alsobrooks (Democrat, Maryland) reached an agreement on the stablecoin yield issue, but banking lobbying groups are now complaining that the compromise is too friendly to stablecoin companies. According to reports, American Bankers Association members have sent over 8,000 letters to Senate offices criticizing this yield compromise. A Senate aide told Fortune that at tomorrow's markup, Senate Banking Committee Chair Tim Scott (Republican, South Carolina) is expected to emphasize protecting "ordinary people," safeguarding national security, and keeping crypto innovation in the United States as the main goals of the CLARITY Act. Another Senate aide said Democrats are expected to focus on the ethics issues raised by President Trump's numerous crypto entanglements. "Democrats are increasingly worried that if ethics provisions aren't included in the Banking Committee's markup version of the bill, they may not be included afterward," the staffer said. He added that Democrats are focused on addressing the issue of the Trump family profiting from cryptocurrency in market structure legislation. This week, Republicans and Democrats have met multiple times to discuss how to add ethics provisions to the CLARITY Act. For now, the bill's chances of advancing to a full Senate vote remain relatively high. Senator John Kennedy of Louisiana, a key Republican who had previously expressed reservations about the CLARITY Act in the Banking Committee, told Semafor he plans to support the bill. But with summer recess and midterm elections approaching, the CLARITY Act's margin for error remains quite limited. Traders on Polymarket have become less optimistic about the bill's passage this week. The prediction market currently puts the odds of passage this year at 60%.

Data Status✓ Full text extractedRead Original (動區 BlockTempo)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-04-27

Only 28 days left for the CLARITY Act! If it doesn't pass by the end of May, there's no hope for this year; Polymarket betting odds for passage have dropped to 38%.

2026-05-11

Polymarket Odds Flash 73% on Clarity Act Becoming Law in 2026

Similarity 130%關鍵字 polymarket/clarity

2026-05-22

Polymarket is blocked in Taiwan! Developer who accidentally touched election betting markets reveals: Woken up by police in the middle of the night for questioning

Similarity 120%關鍵字 polymarket同分類 zh

2026-05-22

US House of Representatives investigates insider trading on prediction markets Polymarket and Kalshi to prevent officials from profiting from "state secrets"