Coinbase stock surged 8% after the Senate Banking Committee advanced the CLARITY Act in a 15 to 9 bipartisan vote.
The Senate Banking Committee passed the Digital Asset Market Clarity Act on May 14 by 15 votes to 9, with support from two Democratic senators providing the bipartisan margin that moves the bill toward the full Senate.
Coinbase CEO Brian Armstrong had backed the current version of the bill ahead of the vote, calling it “closer than ever” to becoming law and describing the stablecoin yield compromise as a result “both sides left a little bit unhappy” with — a sign, he said, that negotiators found a genuine middle ground.
Coinbase (COIN) led gains among crypto-linked equities, surging 8% as investors priced in the possibility that clearer regulatory rules could accelerate institutional participation in digital assets.
Bitcoin rose to $82,000 shortly after the vote before retreating to approximately $81,500, up 2.5% over 24 hours. Strategy (MSTR) climbed 7%, while Ethereum-focused treasury firm Bitmine (BMNR) advanced 5.6%. The broader risk-on mood extended beyond crypto, with both the Nasdaq 100 and S&P 500 pushing to fresh record highs on the same day.
What comes next for the CLARITY Act
As crypto.news reported, the stablecoin yield compromise between Senators Thom Tillis and Angela Alsobrooks was the final major hurdle cleared before the committee vote.
The full text, published by the Senate Banking Committee, runs to 309 pages and still contains unresolved ethics language around government officials’ crypto holdings that Democrats demanded before supporting the bill at floor stage.
The CLARITY Act must still clear the full Senate with a 60-vote threshold, which requires additional Democratic support beyond the two senators who voted yes in committee.
It must then be reconciled with the version the House passed 294 to 134 in July 2025 before reaching the White House. Senator Bernie Moreno had warned that failure to advance the bill by end of May could shelve crypto market structure legislation for years.
The committee vote gives the bill its clearest legislative path since it stalled in January, when Coinbase temporarily withdrew support over the stablecoin yield provisions now resolved through the Tillis-Alsobrooks compromise.