Senate Banking Committee Advances Crypto Market Clarity Bill Amid Industry Concerns

The U.S. Senate Banking Committee is taking steps forward in its consideration of the Digital Asset Market Clarity Act of 2025, a bill aimed at clarifying the structure of the crypto market.

A markup hearing for the bill has been scheduled for May 14, following a compromise on stablecoin yield, which had been a major point of contention. The compromise bars yield on static stablecoin reserve holdings while allowing rewards for used stablecoins, addressing one of the key issues that had hindered progress on the bill.

Despite this development, some industry groups are still expressing concerns and have called for further revisions to the bill. Banking associations and Senator Kirsten Gillibrand have emphasized the need for additional consumer protection and ethics provisions, with significant objections remaining before a Senate vote.