After months of setbacks, the long-awaited CLARITY Act appears to be approaching its final procedural hurdle in the Senate. The Banking Committee is expected to schedule the vote for May, bringing the bill closer to a full Senate vote.
At the Bitcoin 2026 conference in Las Vegas on Tuesday, Patrick Witt, the White House’s top crypto adviser, suggested that the bill’s passage could be the catalyst the industry has been waiting for.
CLARITY Act Momentum Builds
Speaking to the room in direct, high-confidence terms, Witt said that once the CLARITY Act is signed, “this industry is going to take off like a rocket ship,” framing the law as the major turning point that could unlock a fresh rally.
Witt also pointed to timing, emphasizing that the administration expects concrete movement—language he reiterated in connection with May.
His remarks were followed by Senator Cynthia Lummis, member of the Senate Banking Committee, who offered the clearest signal yet about the committee’s timetable. Lummis said, “We are going to mark up the Clarity Act in May. We are going to get it to the finish line.”
The CLARITY Act, which would establish federal rules to determine which crypto assets are treated as commodities versus securities, passed the House in July 2025.
Since then, it has remained stuck in the Senate Banking Committee. The bill received backing from the Agriculture Committee last January, shifting much of the remaining uncertainty to the Banking Committee’s stance and internal negotiations.
However, according to a Wednesday report by Eleanor Terrett of Crypto In America, additional momentum may be building inside the Senate process.
In a social media post on X, Terrett—who has closely tracked developments in Washington—reported that Senator Thom Tillis, a key negotiator on the Senate Banking Committee, said he is ready to push the bill forward for a markup.
Stablecoin Yield Concerns Addressed?
Terrett quoted Tillis as stating: “I’m going to ask the chair to move forward with scheduling a markup when we get back... I think we’ve made a lot of progress... and it’s time to get it before the committee to move it forward.”
Tillis also indicated that the primary concerns of the CLARITY Act from traditional banking stakeholders—particularly those tied to stablecoin yield—have been heard and addressed. He added that any remaining issues can be worked out cooperatively, noting that others are welcome to “come and work in good faith.”
The remarks suggest negotiators believe they can reach a compromise that satisfies at least the core demands from both sides, though it remains unclear how much the latest CLARITY Act draft language will ultimately reflect those concessions.
As for the near-term process, Tillis reportedly offered a hope for timing on the release of legislative text. He said he expects to release stablecoin yield language 4 to 5 days before a markup after stakeholders receive a preview.
Featured image from OpenArt, chart from TradingView.com
