The debate over the Digital Asset CLARITY Act is set to resume this week as the US Senate returns after the Memorial Day break.
The proposed law is seen as one of the most important crypto market structure bills in US history. Supporters think it could finally set clearer rules for digital assets and clarify the roles of industry regulators.
The bill has passed key committees and is now closer to a possible Senate vote. If approved, it would give federal commodities regulators more authority over many crypto assets.
Industry leaders still support the bill. Coinbase Chief Policy Officer Faryar Shirzad recently called it the biggest financial regulatory effort since the Dodd-Frank reforms after the 2008 financial crisis.
However, there is still strong opposition. JPMorgan CEO Jamie Dimon has criticized the bill, saying some parts could let crypto companies compete too aggressively with traditional banks by offering interest on stablecoin balances and customer deposits.
Ethics concerns are also causing problems. Several lawmakers want stronger conflict-of-interest rules before they support the bill. Senator Kirsten Gillibrand said ethics provisions are essential for gaining wider support.
Political debate has grown more intense due to concerns about President Donald Trump’s ties to crypto businesses and projects.
Despite disagreements, Senate lawmakers are expected to keep working on a combined version of the bill. If progress continues, supporters think a final vote could happen before August. Prediction market Polymarket currently puts the odds of passage this year at about 55%.
Public policy is about achieving the right outcome for the American people. The CLARITY Act does exactly that.
It provides much needed consumer protections, and allows our financial sector to innovate under clear rules.
It was great to talk about why the CLARITY Act is ready to… pic.twitter.com/lRxT2Ax7HK
— Faryar Shirzad 🛡️ (@faryarshirzad) June 1, 2026
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