Overview
- The bill was placed on the Senate Legislative Calendar on June 1, making it eligible for full Senate consideration once leadership schedules floor debate.
- The Senate Banking Committee advanced the 309-page Digital Asset Market CLARITY Act in a 15–9 vote on May 14, setting the core text that senators will now debate.
- Supporters have stepped up advocacy, including a Blockchain Association letter signed by 160 former national security and law enforcement officials on June 3 urging prompt action to strengthen enforcement tools.
- Major banks, led by JPMorgan CEO Jamie Dimon, publicly oppose key stablecoin provisions and argue the bill would let crypto firms offer bank-like yields without bank safeguards, raising AML and deposit‑flight concerns.
- Significant hurdles remain before enactment: reconciling a separate Agriculture Committee text, resolving ethics and AML scope disputes, securing roughly 60 votes to overcome a filibuster, and finding floor time in a tight pre‑recess calendar.