US Senate Nears CLARITY Act Markup as Poll Shows 52% Support

The US Senate is moving closer to the next step on the CLARITY Act, a digital-asset market structure bill, as a new poll shows support from more than half of voters.

BeInCrypto reported on May 8 that the Senate Banking Committee is coordinating the schedule for a markup of the CLARITY Act. A markup is the committee process for reviewing and amending legislation.

Crypto In America host Eleanor Terrett, citing multiple industry sources, reported that a draft of the bill had been shared with some industry participants.

The bill's language is in the final stage of coordination, the report said, and some Democratic demands could be reflected in the final text. Even so, some in the industry are concerned that several provisions have yet to be finalized.

"The overall mood is positive, but it is concerning that some core provisions widely seen as already agreed remain in flux," one industry official said.

Negotiations in Washington are also continuing. Politico reported that some Democratic lawmakers could decide whether to support the bill based on whether ethics-related provisions are included. The CLARITY Act passed the House last year, but Senate consideration has remained stalled for an extended period.

A compromise proposal related to the revenue structure for stablecoins has also recently been disclosed. US banking lobby groups, however, maintain that further revisions are still needed.

A HarrisX poll found that 52% of respondents support the CLARITY Act, while 11% oppose it.

Another 37% said they would be more likely to vote favorably for lawmakers who support the bill. Among digital-asset holders, 72% said they could back pro-crypto candidates regardless of party affiliation.

Market participants are also watching whether Congress could accelerate action on the bill before July 4.