The CLARITY Act, a pivotal U.S. crypto market structure bill, has advanced past the Senate Banking Committee with a 15-9 vote on May 14, 2026. However, its progress towards a full Senate vote is hindered by an ethics provision dispute. The bill, introduced by Representative French Hill in May 2025, aims to delineate the regulatory authority between the SEC and CFTC over digital assets. It passed the House in July 2025 but has faced delays in the Senate. The legislation proposes dividing oversight into three categories: digital asset commodities under the CFTC, securities under the SEC, and stablecoins under joint oversight. Despite broad agreement on market structure, the bill's passage is stalled by a provision preventing government officials from holding crypto interests, which is opposed by the White House. The bill requires 60 votes to overcome a filibuster, with seven Democratic votes still needed. Negotiations continue as the Senate faces a tight legislative calendar.