The Digital Asset Market Clarity Act has been placed on the United States Senate Legislative Calendar, giving the crypto market structure bill a formal route toward possible floor action. Senate records show the administrative step was completed by June 1, after the Senate Banking Committee advanced the measure on May 14 in a bipartisan 15-9 vote.
That calendar entry does not set a date for a Senate floor vote. It does, however, make the bill eligible for full Senate consideration once leadership decides to schedule debate. From there, the measure would face one of its hardest stretches: floor debate, amendments, and a final vote that will decide whether it can keep moving through the legislative process.
Five of nine major legislative steps are complete
Based on the process outlined around the bill, the CLARITY Act has now completed five of nine major stages. It has been introduced, reviewed in committee hearings, amended in markup, approved by the Senate Banking Committee, and added to the Senate Calendar. The remaining steps include full Senate debate, possible amendments, and a floor vote requiring 60 votes.
If the Senate text differs from the version passed by the House in July 2025, lawmakers would still need to reconcile those differences before sending a final bill to the president. Senator Cynthia Lummis said the United States is closer than ever to a workable digital asset market structure and called on lawmakers to keep the bill moving as it enters a more difficult Senate phase.
Banks challenge stablecoin reward provisions
The calendar move came as large banks sharpened their criticism of the bill. JPMorgan Chase CEO Jamie Dimon said banks would oppose the CLARITY Act unless lawmakers changed provisions that, in his view, give crypto firms bank-like powers without bank-level safeguards.
Speaking on Friday during an interview about pending crypto market structure legislation, Dimon said the bill in its current form would allow crypto companies to offer rewards tied to stablecoins or similar products without the protections used in traditional banking. He also argued that the measure falls short on legal protections, anti-money laundering rules, and Bank Secrecy Act requirements, adding that some crypto products resemble deposits.
Institutions are already trading on the bill’s odds
Institutional firms have also started positioning around the bill’s outcome. Galaxy Digital drew attention with a $10 million institutional prediction market trade tied to whether the CLARITY Act passes in 2026. The trade was executed through Galaxy’s institutional OTC prediction market offering, with Arca using the platform to gain exposure to the bill’s approval odds.
Coinbase, for its part, described the CLARITY Act as very close to completion. Lummis has said the bill would address the long-running jurisdiction dispute between the SEC and CFTC over digital asset oversight. The bill now has a formal place in the Senate queue, but its next move depends on leadership scheduling, floor support, and whether the Senate and House can align on the final text.