Bankers are scrambling as Senate schedules CLARITY Act markup for May 14

Senate Banking Committee will mark up the CLARITY Act on May 14, moving the stalled crypto‑market‑structure bill into a public amendment process. Lawmakers will test a fragile stablecoin incentive compromise amid pressure from banks, crypto firms, and Democrats seeking stricter ethics language. Crypto firms welcome the date, backing a yield compromise after talks on jurisdiction, consumer protections, and stablecoin rewards. The bill still requires reconciliation with the Senate Agriculture Committee before a floor vote.