Description : A high-stakes showdown in Washington is nearing its climax. On May 8, 2026, Senate Banking Chairman Tim Scott announced a May 14 markup for the long-awaited CLARITY Act. This landmark legislation aims to define the “rules of the road” for digital assets, pitting the crypto industry against Wall Street banks. The heart of the debate is the “Tillis-Alsobrooks” compromise, which prohibits interest on idle stablecoins to protect bank deposits but allows rewards for spending. However, a major hurdle remains: Senator Kirsten Gillibrandâs “Ethics Provision,” which seeks to ban senior officialsâ”including the Presidentâ”from issuing or promoting coins. We look at the “7 Democrat Math” needed to clear the Senate floor. Keyword : Senate Banking Committee crypto markup May 14,
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