[TD Cowen: Crypto Bill Vote Moves Battlefield to Senate Floor, but 'Significant Hurdles' Remain] According to The Block, investment bank TD Cowen stated that the U.S. Senate Banking Committee will vote on the crypto market structure bill, the CLARITY Act, on May 14. However, this does not mean the bill will become law; the vote merely shifts the battlefield to the Senate floor. TD Cowen Managing Director Jaret Seiberg pointed out that the bill still faces 'significant hurdles,' including issues related to stablecoin yields and provisions on ethics or conflicts of interest. Even if it passes the Banking Committee, it will need to be merged with the Senate Agriculture Committee's version and secure 60 votes in the Senate. Seiberg believes that the issue of stablecoin yields is difficult to address in a way that satisfies Coinbase, the crypto industry, and banks simultaneously, as Congress typically avoids choosing sides among powerful interest groups.