The Senate Banking Committee voted to advance the Digital Asset Market Clarity Act on Thursday, May 14, 2026, which marks a significant step toward establishing a federal framework for crypto regulation in the United States.
The committee approved the 309-page draft released earlier this week, which would formally divide oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The bill now moves to the full Senate floor, where it will require 60 votes to advance.
A detailed breakdown of the CLARITY Act and its proposed SEC-CFTC split is available in Finance Magnates’ explainer published ahead of the vote.
The vote followed months of negotiations over stablecoin yield restrictions, DeFi oversight, and ethics rules barring government officials from holding crypto assets.
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The CLARITY Act passed the House in July 2025 with bipartisan support in a 294-134 vote. A separate crypto market structure bill cleared the Senate Agriculture Committee in January 2026, meaning the two versions will still need to be reconciled before final passage.
Even if ultimately signed into law, the framework would still require extensive SEC-CFTC rulemaking before becoming fully operational.
