Senate Banking Committee advances CLARITY Act 15-9

The Senate Banking Committee voted 15-9 to advance the Digital Asset Market Clarity Act, which sets out a market-structure framework for digital assets. The bill must still pass the full Senate and receive action in the House to become law.

Committee Democrats raised objections to anti-money-laundering provisions and possible political conflicts of interest in the measure. Banks and cryptocurrency firms have not resolved how to treat rewards tied to stablecoins, leaving several key issues unresolved as the bill moves forward.

The National Cryptocurrency Association released its 2026 State of Crypto Holders Report, based on a Harris Poll of 10,000 U.S. crypto holders surveyed Feb. 12–Mar. 3. The NCA estimated 67 million American adults now own cryptocurrency, an increase of 12 million from the prior year, and reported that 87% of holders were actively using crypto in 2026.

The survey found 41% of holders send crypto to friends and family, and 40% use it to buy goods and services. Fifty-four percent cited financial independence as a reason for using crypto, and 37% said they plan to send crypto to employees in the next year.

On trust and drivers of use, the survey reported 69% of holders trust crypto compared with 65% who trust traditional banks. When asked what would build their trust, 49% pointed to company transparency, 42% to real-world use cases by ordinary users, and 39% to government oversight. Factors that would make holders more likely to use crypto included earning rewards or interest (40%), wider payment acceptance (35%), better personal knowledge (35%), reduced price volatility (34%), and smarter regulation (32%).

The report shows demographic shifts: women now make up more than 33% of holders, a 10-percentage-point rise from the prior year. The 55-and-older group recently outnumbered 18-to-24-year-olds among new buyers. The survey found more holders work in construction than in finance. Regionally, 38% of holders live in the South, 27% in the West, and 18% each in the Northeast and Midwest.

Ali Tager, vice president of external affairs at the NCA, said, “When the legal uncertainty surrounding crypto is replaced with clear consumer protections, the tool feels less novel and more normal.” He added that clearer rules would give consumers and businesses more predictable oversight similar to other financial institutions.

Analysts and industry advocates outlined two possible legislative outcomes. If the CLARITY Act passes the Senate and is reconciled with the House with its core market-structure framework intact, supporters expect exchanges, custodians and banks to have clearer compliance paths and for banks to offer more crypto services. If the bill stalls or fractures over anti-money-laundering language, conflicts of interest or stablecoin rewards, the committee action would not resolve legal uncertainty and adoption would continue through payments integration, rewards programs and private-sector partnerships.

The committee vote advances a legislative process that includes a Senate floor vote, House consideration and potential agency rulemaking. Those steps will determine whether federal rules take effect or whether private-sector developments continue to shape crypto use in the near term.