CLARITY Act 5/14 U.S. Senate Banking Committee Markup confirmed: Tim Scott aims to complete it by 5/21

The U.S. Senate Banking Committee has confirmed that it will conduct a line-by-line markup (markup) of the “Digital Asset Market CLARITY Act” at 10:30 a.m. on May 14, a key milestone for advancing the bill on the Senate side. CoinDesk’s 5/8 report summarizes the specific timeline: the committee chair Tim Scott aims to complete the markup before the Memorial Day recess on May 21. The bill is a further concretization of legislative scheduling after the White House’s 5/6 announcement of a July 4 target.

The 5/14 markup hearing confirms: 10:30 a.m., location: the Senate Banking Committee

The specific arrangements for this markup:

Date: Thursday, May 14, 2026

Time: 10:30 a.m.

Location: the Senate Banking Committee

Agenda: conduct a line-by-line review of the “Digital Asset Market CLARITY Act”

Markup is the core procedure at the committee stage: lawmakers discuss and revise the bill line by line, and the final committee vote determines whether the bill can be sent to the full Senate for consideration. Since January, the CLARITY Act has been stalled in the Senate, with disputes over stablecoin yield being the main bottleneck. This markup confirmation suggests that a compromise version has been found that can move the issue forward.

Tim Scott aims to complete by 5/21, and the Tillis-Alsobrooks compromise opens the path forward

Key constraints of the legislative timeline:

Tim Scott goal: complete the markup before the Memorial Day recess on May 21

Between the 5/14 markup and 5/21: a window of five working days

Breakthrough: North Carolina Senator Thom Tillis and Maryland Senator Angela Alsobrooks reached a compromise on the stablecoin yield issue, allowing the bill to restart its push

This timeline can connect with the White House’s 5/6 announced goal of “passing in the House on July 4”: 5/14 markup → committee approval before 5/21 → four working weeks for the full Senate floor in June → completion of the House version by 7/4. Any delay at any point will push the overall schedule back in tandem.

Next steps: the banking industry still has concerns, and other committee versions need to be coordinated

Issues still to be resolved after this markup:

The banking industry still has concerns about the stablecoin provisions, believing the current language may allow crypto companies to “sidestep” bank deposit protection requirements

The CLARITY Act must be coordinated and aligned with versions from other committees

After coordination, it must pass a full Senate floor vote

Then it still needs to go through House procedures before it can become law

Specific events to watch next: the specific provisions that are passed or revised in the 5/14 markup, the banking industry’s subsequent lobbying actions, and whether the June Senate floor schedule can be initiated as expected.

This article first appeared on Chain News ABMedia, confirming the 5/14 Senate Banking Committee markup of the CLARITY Act: Tim Scott aims to complete it before 5/21.