The U.S. Senate Banking Committee released the final draft of the CLARITY Act under Legislative Registration Number EHF26374. With this publication, the organization made available to the public a 309-page legal structure that will reach the table for discussion just before the decisive voting process on May 14, 2026.
The document itself is the map it is trying to draw The decisive line between Securities and Exchange Commission (SEC) territory and oversight Commodity Futures Trading Commission (CFTC) agreement on digital assets, as was already happening through the historic agreement reported by CriptoNoticias last January.
This publication responds to political and market exigencies. Because after years of litigation-driven regulation, the Senate is now trying to take control of the discourse around digital asset markets.
The aim is to replace court ambiguity with a legal framework that gives financial institutions the solid foundation they need to operate. It is essentially a decidedly decisive endeavor. Codifying the coexistence of traditional systems and new economic rails.
In this document, the “Cooperative Control” standard appears at the center of the technical gear. Based on this concept, we aim to resolve the eternal dilemma that decentralization poses for regulation.
Therefore, if your network indicates that no entity currently has coordinated command, your assets will be migrated from the next category. securities or convert securities into digital products; merchandise. The document also protects node developers and operators and makes clear that without control of funds, senders are not responsible.
Traditional banks remain on the offensive
But the biggest points of friction are centered on section 404. This part of the draft explicitly prohibits payment stablecoins from generating passive income or interest for users.
This is a significant concession for traditional banks seeking to protect deposits and avoid large-scale disintermediation. However, it will put a brake on competitiveness for the crypto asset industry. Ultimately, for regulators, This is a necessary safeguard against the systemic risk of uninsured assets.
Either way, in the face of impending approval of the Transparency Act, traditional banks have launched a final offensive. Rob Nichols, president of the American Bankers Association (ABA), called for “immediate action” to close what he believes are loopholes in compensation language.
The draft prohibits passive interest, but as mentioned earlier in this memo, bankers have warned that the current exception allows for disguised payments tied to balances. For ABA, this is not just a technical detail; Risk of “mass migration” of bank deposits to stablecoins USDT or USDC threatens the country’s financial stability.
The draft represents the strongest agreement ever reached on Capitol Hill, but the clarity comes at the cost of increased oversight demands. The document recognizes self-custody rights, but frames them within an environment of strict transparency. In any case, May 14th will tell us whether these 309 pages will break the legislative silence and become the basis of US regulation.
(Tag translation) Cryptocurrency
