A digital-asset market-structure bill has cleared the US Senate Banking Committee, which voted 15-9 on 14 May 2026 to advance the measure after months of negotiation. It now moves towards the Senate floor, where it will need to be merged with a version from the Agriculture Committee, which oversees the Commodity Futures Trading Commission (CTFC).
Part of the effort known as the CLARITY Act, the legislation would draw the boundary between the CFTC and the Securities and Exchange Commission (SEC) over digital assets. The CFTC would become the primary regulator for assets treated as digital commodities, taking on much of the crypto market, while the SEC would keep authority over digital securities. Whether an asset falls on one side or the other would depend on its characteristics and the maturity of the underlying network. The House passed its companion measure, H.R. 3633, by 294 votes to 134 in July 2025.
The Banking Committee's text includes a provision allowing digital-asset firms to pay stablecoin holders rewards in certain circumstances, which banking groups have opposed.
