According to a May 6 report by Bitcoin Magazine, US Republican senator Bernie Moreno said the Senate will consider the “Digital Asset Market Transparency Act” (CLARITY Act) “next week”; Moreno said: “We will have it on the president’s desk by the end of June, and he will sign it into law before July 4.”
Moreno’s statement and legislative timeline context
According to Bitcoin Magazine, the CLARITY Act passed the House in July 2025 by a larger margin, but has continued to be blocked in the Senate. The main reason is disagreement over a stablecoin yield mechanism—one that allows crypto holders to earn returns by holding digital assets—opposed by large banks.
According to Bitcoin Magazine, Moreno said that the end of May is the last chance for Congress to pass the bill before legislative progress slows due to the 2026 midterm elections. The Senate Banking Committee still needs to schedule a hearing and a vote, then submit it for a full Senate vote; all procedures must be completed by year-end.
Stablecoin disagreement: the compromise proposal
According to Bitcoin Magazine, last Friday (May 1, 2026), Senators Tom Tillis and Angela Alsobrooks unveiled a compromise plan that bans stablecoin companies from paying bank-style interest, but allows linking the yield to real user activity on crypto platforms. Coinbase and Circle immediately announced their support for the agreement.
Positions of the parties
According to Bitcoin Magazine, Ripple CEO Brad Garlinghouse said at the Consensus 2026 conference in Miami: “If we can’t reach an agreement within two weeks, I think the odds of reaching one will drop sharply.” He also said that while the bill is not perfect, “clarity is always better than chaos.”
According to Bitcoin Magazine, BitMEX co-founder Arthur Hayes took the opposite view, arguing that the CLARITY Act mainly benefits large centralized companies with lobbying power in Washington, and provides limited help to the broader crypto ecosystem.
According to prediction market data, the market-implied probability that the CLARITY Act will pass this year is about 44%.
FAQ
Which media outlet reported Senator Moreno’s statement about the CLARITY Act, and what is the core content?
According to Bitcoin Magazine’s May 6, 2026 report, Moreno said the Senate will consider the CLARITY Act next week, with the goal of delivering it to the president by the end of June, and signing it into law before July 4.
What are the main details of the stablecoin compromise proposal by Tillis and Alsobrooks?
According to Bitcoin Magazine, the compromise proposal bans stablecoin companies from paying bank-style interest, but allows linking the yield to real user activity on crypto platforms. Coinbase and Circle immediately announced their support.
What are the stances of Ripple CEO Garlinghouse and Arthur Hayes on the CLARITY Act, respectively?
According to Bitcoin Magazine, Garlinghouse emphasized the urgency of the two-week window, saying “clarity is always better than chaos.” Hayes, meanwhile, took a contrary stance, arguing that the bill mainly benefits large centralized businesses with lobbying power in Washington.
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