Overview
- The White House, which set a July 4 goal on Wednesday at Consensus Miami, outlined a May Senate Banking Committee markup, June floor action, and a House vote before the holiday.
- The CLARITY Act would define federal rules for digital assets by splitting oversight between the Commodity Futures Trading Commission and the Securities and Exchange Commission to give firms clear paths to register and disclose.
- A compromise from Sens. Thom Tillis and Angela Alsobrooks would ban bank‑like interest on stablecoins but allow limited spending‑tied rewards, a fix the White House calls settled even as banks and some crypto firms object.
- Sen. Kirsten Gillibrand said Democrats will withhold support unless the bill bars senior officials, including the president and vice president, from holding crypto, while the White House backs ethics rules that apply across government without singling out anyone.
- A Banking Committee session is expected this month but is not yet scheduled, stakeholder pushback continues, and prediction markets put passage odds near 65% by the end of 2026 and about even before August.