Senate Clarity Act Markup Faces Dozens of Amendments — Most Won't Survive

The U.S. Senate Banking Committee is set to hold a markup hearing on the Digital Asset Market Clarity Act this week, with dozens of proposed amendments on the table — the vast majority of which are expected to be voted down by the Republican majority. Democratic senators including Elizabeth Warren, Jack Reed, and Chris Van Hollen have put forward proposals ranging from stablecoin yield restrictions and DeFi developer safe harbors to outright bans on senior government officials owning or promoting crypto businesses.

The amendments read largely as a Democratic wish list. Reed wants to scrap the Blockchain Regulatory Certainty Act entirely, while Van Hollen is pushing a ban on the president and senior officials affiliating with digital asset firms — a provision widely seen as targeting World Liberty Financial, the Trump family-linked entity seeking a U.S. banking charter. Democrats…