Michael Saylor says the CLARITY Act could unlock digital capital, BTC adoption, and STRC yield markets as the Senate prepares markup.
Author: Kritika Gupta
12th May 2026 – The Senate Banking Committee has released the 309-page manager’s amendment to the CLARITY Act. The text sets the stage for a formal markup on Thursday, May 14. Chairman Tim Scott released the text alongside Senators Cynthia Lummis and Thom Tillis. Together, they represent the core Senate negotiators behind the Digital Asset Market Clarity Act of 2025 (H.R. 3633). The amendment builds on the House-passed version that cleared with a bipartisan 294-134 vote in July 2025.
“It is time to move forward with a markup and take the next step in establishing America as the crypto capital of the world,” the committee’s press release stated.
High Signal Summary For A Quick Glance
GigaChadRizzGod
@GigaChadRizzGod
@saylor @JAN3com Absolutely bullish! The CLARITY Act is the regulatory green light America needed to supercharge Bitcoin adoption. Clear rules = institutional capital flood incoming. JAN3 building Aqua for the real infrastructure play here. Hyperbitcoinization accelerating 🚀⚡ #Bitcoin https://t.co/8bSKhzJh5S
Last night’s CLARITY Act markup would unlock the next wave of Digital Capital, Digital Credit, and Digital Equity in the U.S. and globally — institutional validation for $BTC, a framework for $STRC -powered digital yield markets, and broader adoption of $MSTR.
12:35 PM·May 12, 2026
Cindy.exe
@shaaaawty_7
@saylor The Clarity Act only concerns the US. The country certainly plays a significant role in the crypto market, but in reality, the bulk of Bitcoin and altcoin trading volume is spread across international platforms. Besides, the US, like other countries, wants to authorize its own
Last night’s CLARITY Act markup would unlock the next wave of Digital Capital, Digital Credit, and Digital Equity in the U.S. and globally — institutional validation for $BTC, a framework for $STRC -powered digital yield markets, and broader adoption of $MSTR.
12:02 PM·May 12, 2026
Hokma Signal
@HokmaSignal
@saylor Priced in” is what people say right before the real move begins. The CLARITY Act isn’t just another bill, it’s the regulatory green light institutions have been waiting for. This isn’t retail FOMO. This is trillions in pension, corporate, and sovereign capital finally getting a
Last night’s CLARITY Act markup would unlock the next wave of Digital Capital, Digital Credit, and Digital Equity in the U.S. and globally — institutional validation for $BTC, a framework for $STRC -powered digital yield markets, and broader adoption of $MSTR.
11:59 AM·May 12, 2026
Steady attention without excessive speculation.
The bill creates a two-regulator framework for digital assets. As a result, tokens split into two categories based on their structure and use. Tokens that qualify as “digital commodities” fall under exclusive CFTC spot-market oversight. To qualify, the underlying network must pass a “mature blockchain” test. Bitcoin is the clearest example of this category.
Tokens sold as investment contracts stay under SEC jurisdiction. These “ancillary assets” gain a disclosure-based exemption pathway instead of requiring full registration. So projects can comply without the cost of a full securities filing.
In addition, the bill adds safe harbors for non-custodial DeFi developers. It also includes self-custody protections under a “Keep Your Coins” provision. Custodians must treat digital assets as customer property in bankruptcy.
One of the most closely watched provisions is the Tillis-Alsobrooks stablecoin yield compromise. Specifically, the amendment bans passive yield on payment stablecoins. Issuers cannot pay holders simply for holding the tokens.
Activity-based rewards, on the other hand, are explicitly allowed. Payments, transfers, and ledger participation all qualify. Because of this distinction, products like Strategy Inc.’s STRC preferred stock gain a regulatory pathway. STRC pays variable dividends tied to BTC accumulation activity. The 309-page amendment text describes these rewards as “critical to enabling innovation, competition, and consumer adoption.”
Key milestones related to this development
Lawmakers introduce the Digital Asset Market Clarity Act to define crypto market structure rules.
The bill moves into relevant House committees for review, debate, amendments, and procedural action.
Senate lawmakers take up the bill text, signaling renewed movement on crypto market structure legislation.
The committee must vote to advance the legislation before it can move toward broader Senate consideration.
If advanced, the bill would need full Senate approval before final negotiations or passage.
Any House-Senate differences would need resolution before the bill can reach the president’s desk.
Strategy Inc. chairman Michael Saylor was among the first to react. In a post on X, he called the CLARITY Act markup a catalyst. According to Saylor, it “would unlock the next wave of Digital Capital, Digital Credit, and Digital Equity.”
He also framed the bill as “institutional validation for $BTC” and a framework for “$STRC-powered digital yield markets.” His post referenced the bill’s language on activity-based rewards. Saylor’s post referenced “last night’s CLARITY Act markup,” but no markup session took place on May 11. The committee released the text on May 12 instead. The actual markup is scheduled for May 14 at 10:30 a.m. ET.
CLARITY Act compared with earlier crypto market-structure efforts
Despite the significance of the text release, market reaction remained modest. BTC traded between $80,000 and $82,000 with roughly a 1% move. No outsized volume spike appeared, according to TradingView data. Strategy (MSTR) shares rose between 1% and 4.3% in early trading on May 11 and 12. That movement coincided with both the bill news and a routine 535 BTC purchase disclosure (~$43 million).
Meanwhile, STRC showed no material deviation from its ~$100 target price. The preferred stock targets ~11.5% annual dividends. No major on-chain anomalies or whale transfers appeared in connection with the announcement.
The manager’s amendment locks in the core framework. Even so, several open questions remain ahead of Thursday’s markup. The banking lobby, led by the ABA, continues to pressure lawmakers on the stablecoin provision. Banks argue the activity-based reward carve-out could accelerate deposit flight to stablecoin products.
In contrast, some Democratic committee members want ethics and insider-trading language for government officials who hold crypto. A smaller group within the DeFi community also worries that the bill’s definitions could burden permissionless protocols.
Even if the committee advances the bill on Thursday, it still requires full Senate floor passage. That means reconciliation with the Senate Agriculture Committee’s CFTC provisions and a conference with the House version. A presidential signature is also required, and the timeline for those steps remains unclear.
The May 14 markup at 10:30 a.m. ET marks the first formal committee action on the CLARITY Act in the Senate. Polymarket odds for full passage in 2026 briefly spiked above 70% before moderating.
Crypto industry sentiment on X and Reddit is overwhelmingly bullish as a result. Multiple accounts called the text release “the green light institutions have been waiting for.” CoinDesk, CryptoSlate, and Bitcoin Magazine all describe the amendment as the most advanced crypto market-structure text from Congress.
The markup will be public. Consequently, investors, builders, and regulators will get their first real look at whether bipartisan momentum from the House vote can survive the Senate committee process.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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