Senate Advances CLARITY Act Towards Floor Vote Amid Crypto Industry Uncertainty

The US Senate has advanced the Digital Asset Market Clarity Act (CLARITY Act) towards a full floor vote, moving one step closer to establishing clear rules for the crypto industry. The bill, which aims to create a federal framework for digital assets, was approved by the Senate Banking Committee with a bipartisan 15-9 vote on May 14, 2026.

The CLARITY Act would draw a line between SEC and CFTC oversight, with the SEC regulating 'digital asset securities' like investment contracts, while the CFTC would oversee 'digital commodities' and decentralized network tokens. The bill also includes a 'decentralization test' and new disclosure rules for crypto projects.

The bill now joins the Senate Legislative Calendar on June 1, 2026, making it eligible for floor debate. To pass, it needs 60 votes to overcome a filibuster. If approved, it must be reconciled with the House version and signed by the president. Lawmakers face an August deadline before Congress shifts to midterm campaign mode.