The implementation of the heavyweight cryptocurrency regulation bill in the United States is accelerating! The CLARITY Act enters the final legislative channel On May 14, 2026, the US cryptocurrency regulation reached a milestone progress. The US Senate Banking Committee officially reviewed and passed the "Cryptocurrency Market Structure Act" (CLARITY Act) with 15 votes in favor and 9 votes against. This core bill, which reshapes the US digital asset regulatory system, has successfully advanced to the subsequent legislative stage and is only four key processes away from its official implementation. As a heavyweight legislation to comprehensively regulate the cryptocurrency market in the United States, this bill will thoroughly clarify the regulatory responsibilities of digital assets and improve the market compliance framework. However, its formal implementation still needs to go through the complete legal process of congressional review and presidential signature. The specific core steps are as follows: 1. Internal text unification in the Senate (cross committee coordination) There are currently two versions of the bill in the Senate, which are being reviewed and introduced by the Banking Committee, which oversees the SEC, and the Agriculture Committee, which oversees the CFTC. The next step is to complete the integration and revision of the two major committee versions, finalize the only unified bill text in the Senate, and eliminate differences in internal regulatory provisions. 2. Voting by all members of the Senate The unified bill will be submitted to all 100 members of the Senate for debate and voting. Although the bill has received initial support from both parties, it still faces core controversies: several Democratic lawmakers have objections to the bill's anti money laundering (AML) controls, DeFi compliance rules, and political ethics provisions for the Trump family's cryptocurrency companies. The bill needs to garner at least an absolute majority of 60 votes in order to avoid review obstacles. 3. Reconciliation and retrial of versions in the House and Senate The US House of Representatives passed its own version of the CLARITY Act in July 2025, but there are currently differences between the two houses in terms of stablecoin yield rules, investor protection regulations, and other provisions. Subsequently, a joint conference committee of the two houses will be established to negotiate and unify the text. The final draft needs to be passed by both houses of Congress through two separate votes to ensure complete consistency of the version. 4. The President signs formal legislation The White House has clearly expressed strong support for the bill and set a legislative implementation target before and after Independence Day on July 4, 2026. After the two houses complete the entire review process and submit the unified bill text to the President for signature, the bill will officially come into effect and become the top-level regulatory law for the US cryptocurrency market. Industry core impact The advancement of this bill means that the US cryptocurrency industry has bid farewell to the long-term regulatory ambiguity and entered the countdown. Once implemented, it will establish a clear regulatory system for digital assets, reshape the compliance rules of the US cryptocurrency market, and have a profound impact on global cryptocurrency industry regulatory standards and market development trends.