The U.S. Senate Banking Committee is set to begin markup of the long-awaited CLARITY Act as early as tomorrow, according to multiple industry sources who have seen the draft text. The move comes on the heels of a new HarrisX poll showing 52% of registered voters support the bill, with only 11% opposed — a clear sign that crypto regulation has become a mainstream issue with bipartisan appeal.
The survey of 2,008 voters found net support (supporters minus opponents) at 48% among Democrats, 43% among Republicans, and 32% among independents. Crucially, 37% of respondents said they would be more likely to back a member of Congress who votes for the CLARITY Act, and 47% would consider crossing party lines if their own party opposed it. Seven in ten voters believe the U.S. should have already passed cryptocurrency legislation, and 62% want America to set the global rules for digital assets. A further 60% favor clear federal rules over the enforcement-first approach regulators have relied on so far.
The draft language circulated to select industry members ahead of a potential Thursday vote has been described as “generally positive,” though some bracketed sections suggest provisions once thought settled remain in flux. The bill — introduced by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) — would establish a comprehensive federal framework for digital assets, defining which tokens fall under CFTC versus SEC oversight, creating registration pathways for exchanges and custodians, and offering safe harbors for decentralized finance. A compromise on stablecoin yield bans passive “buy and hold” rewards but preserves activity-based returns.
Having cleared the House in July 2025 with a 294–134 bipartisan majority, the bill now faces a tight timeline. White House digital assets adviser Patrick Witt told Consensus Miami the administration is targeting July 4 for passage, with a Senate floor vote expected in June. Polymarket currently gives a roughly 70% probability of the CLARITY Act becoming law in 2026. “We are in the red zone,” Chairman Tim Scott remarked this week, highlighting both the momentum and the urgency as summer recess looms.
