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Here's the latest on the Digital Asset Market CLARITY Act: What is it? The CLARITY Act (H.R. 3633) creates a clear statutory distinction between digital commodities, which fall under CFTC oversight, and investment contracts that remain with the SEC. It introduces new registration categories for exchanges, brokers, dealers, and custodians. (Disruption Banking) Recent Breakthrough (May 2026) Senators Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) released a stablecoin yield compromise — the final major sticking point in the bill. The text blocks crypto firms from offering stablecoin yield that looks like bank deposits, but permits "bona fide" transaction-based rewards. (CoinDesk) Coinbase CEO Brian Armstrong posted "Mark it up" after the text dropped, and Circle's Chief Strategy Officer also endorsed the deal without qualification. (CoinDesk) Market Reaction Bitcoin crossed $80,000 on Monday, surging 19% over the past month. Crypto equities also reacted positively, with Coinbase and Circle stock rising 7% and 15% respectively. (Fortune) The odds of the Clarity Act passing in 2026 quickly jumped from 46% to 64% on Polymarket following the compromise. (DL News) What's Next? Senator Tillis said he will "encourage the chair to move forward with the markup," which could open the chance for a mid-May Senate Banking Committee hearing. After that, the legislation still needs a full Senate floor vote (requiring 60 votes), reconciliation with the House version, and presidential signature. (CoinDesk) There are roughly 50-50 odds of the bill being signed into law in 2026, according to crypto investment firm Galaxy — with timing being the biggest risk given how tight the Senate calendar is. (CoinDesk)