"Stablecoins are carved out as a separate category under shared oversight. The Senate version of the bill expanded well beyond the House text, growing to nine titles covering decen"
The Senate Banking Committee scheduled May 14 for its long-delayed markup of the Digital Asset Market Clarity Act, with an executive session at 10:30 a.m. in Room 538 of the Dirksen Senate Office Building. Committee members will debate amendments and vote on whether to advance the bill to the full Senate. The bill, H.R. 3633, passed the House on July 17, 2025, by a 294-134 bipartisan vote. In the Senate, it has stalled through cancelled markup sessions and extended negotiations over stablecoin regulation. The legislation would establish a regulatory boundary between the SEC and the CFTC by assigning exclusive CFTC jurisdiction over spot and cash markets for “digital commodities,” while the SEC retains authority over investment contract assets and primary market fundraising. Stablecoins would be handled under shared oversight.
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