Overview
- The Digital Asset Market CLARITY Act, which cleared the Senate Banking Committee on Thursday in a 15-9 vote, lays out a federal framework that puts the SEC over digital-asset securities and the CFTC over spot trading of digital commodities.
- Full Senate passage needs 60 votes to end debate, and only two Democrats supported the bill in committee after conditioning their backing on more changes, with no floor date yet set.
- Democrats are pressing for conflict-of-interest safeguards linked to President Trump’s crypto ties, after Republicans rejected an ethics amendment in committee and as the White House resists language that targets a single officeholder.
- A last‑minute committee compromise bans passive, interest‑like stablecoin returns but allows narrowly defined activity‑based rewards, a shift that could curb deposit‑style payouts users have come to expect.
- Sponsors must first align the Banking and Agriculture texts before a floor push, with a practical window from June through early August and a White House target of July 4 for a signing if Congress acts.