CLARITY Act clears Senate markup in 15–9 vote as ethics fights persist

The Senate Banking Committee advanced the CLARITY Act in a 15–9 vote during a markup session on 14 May.  This moves the cryptocurrency market structure bill to its next legislative stage after lawmakers spent hours debating amendments covering ethics rules, decentralized finance [DeFi], and anti-money laundering provisions. A markup session is the stage where lawmakers review legislation line by line, propose changes, and vote on amendments before deciding whether the bill should move forward. The committee ultimately approved an amended version of the legislation, preserving momentum behind one of the most closely watched crypto regulatory efforts in Washington.  However, the vote does not represent final Senate approval, and the legislation still faces additional steps before it can become law. Warren amendments fail as ethics concerns remain During the session, lawmakers debated dozens of proposed changes, including several amendments introduced by critics who argued the legislation could weaken safeguards around financial crime and conflicts of interest. Elizabeth Warren repeatedly raised concerns about whether certain provisions could create unintended gaps in oversight or complicate efforts to combat illicit finance. Several amendments tied to ethics rules, banking exposure, and regulatory oversight ultimately failed to gain enough support. Ethics provisions emerged as one of the clearest areas of disagreement during the hearing. They could remain a sticking point as negotiations move forward. Bipartisan support survives, but negotiations continue Despite sharp exchanges during the markup, bipartisan support for the legislation largely remained intact. Lawmakers backing the bill argued that it would establish clearer rules for digital asset markets and provide greater clarity on which activities fall under existing regulatory frameworks. Supporters also repeatedly defended the legislation against arguments that it would weaken anti-money laundering safeguards. At the same time, several lawmakers signaled that committee support should not automatically translate into support for a final Senate vote. That leaves open the possibility that additional negotiations and amendments could still reshape parts of the bill. Industry sees progress toward broader crypto framework Industry participants also reacted to the committee's decision. Steven McWhirter, Global Policy Lead at Binance, said the legislation reflects growing recognition that the United States needs a coherent, durable and globally competitive framework for digital asset markets. McWhirter added that policymakers continue working toward a structure that supports innovation while maintaining "consumer protection, market integrity, transparency and financial crime compliance." The CLARITY Act has emerged as one of several major digital asset policy efforts currently under discussion in Washington alongside stablecoin-focused legislation such as the GENIUS Act. What happens next? The committee vote moves the amended bill out of markup and toward potential Senate floor consideration. However, the legislative process remains ongoing. Before any final passage vote: Senate leadership would need to bring the bill to the floor, lawmakers could still propose additional amendments, and unresolved issues surrounding ethics provisions and regulatory language may continue to be negotiated. Only after Senate approval would the legislation move further through the congressional process. Final Summary The Senate Banking Committee advanced the CLARITY Act in a 15–9 vote following a contentious markup session. Ethics provisions, DeFi oversight, and anti-money laundering concerns remain unresolved as the bill heads to its next stage.