The proposed US CLARITY Act is moving forward again, with the Senate Banking Committee preparing to hold a vote on the legislation Thursday, May 14. The bill is designed to establish clearer regulatory guidelines for the cryptocurrency industry in the United States.
Senate Banking Committee Chairman Tim Scott confirmed the upcoming vote on Friday, sparking renewed optimism across the digital asset sector after months of uncertainty surrounding the bill’s progress.
Initially introduced in July 2025, the legislation had faced delays earlier this year after Coinbase withdrew its support in January. The exchange raised several concerns about the proposal, including insufficient legal safeguards for open-source software developers, restrictions involving stablecoin yield products, and questions surrounding decentralized finance regulations.
Following news of the scheduled markup, Coinbase chief legal officer Paul Grewal reacted positively on social media, signaling strong support for the bill’s renewed momentum.
Meanwhile, Coinbase chief policy officer Faryar Shirzad described the development as an important milestone for the industry. Shirzad argued that clearer crypto regulations are necessary to protect consumers, encourage innovation, and ensure blockchain-related businesses continue building within the United States rather than relocating overseas.
Many crypto firms previously expressed frustration over regulatory uncertainty during the administration of former US President Joe Biden, particularly while Gary Gensler led the US Securities and Exchange Commission. Industry participants frequently argued that unclear rules were pushing crypto innovation toward more favorable international jurisdictions.
Pro-crypto Senator Cynthia Lummis also voiced support for the legislation, encouraging lawmakers to move the bill out of committee during Thursday’s vote.
The announcement comes shortly after Coinbase’s vice president of US policy, Kara Calvert, suggested during the Consensus 2026 conference that a markup session was expected within days.
The upcoming committee vote is widely viewed as a significant step toward establishing a more comprehensive regulatory framework for the US crypto industry.
