Senate Democrats intensified efforts to challenge the CLARITY Act, warning the crypto market structure bill could leave major illicit finance vulnerabilities unresolved. The push to challenge the legislation coincided with a separate request for a federal investigation into World Liberty Financial.
Senate Democrats intensified criticism of the CLARITY Act on May 14, 2026, warning that the crypto market structure bill could leave major illicit finance vulnerabilities unresolved as the Senate Banking Committee began debating the legislation. The pressure campaign coincided with a separate request from Senators Elizabeth Warren and Jack Reed for a federal investigation into World Liberty Financial (WLF).
The markup adds urgency to the fight over the Digital Asset Market CLARITY Act. The Senate Banking Committee is currently debating the bill. Lawmakers are weighing a revised 309-page draft backed by Chairman Tim Scott and Senators Cynthia Lummis and Thom Tillis, with more than 130 amendments filed. Warren submitted 44 amendments, including one aimed at political corruption in banking applications. The draft also includes a stablecoin compromise and added housing language, underscoring the effort to assemble support before Memorial Day recess and keep a potential summer floor vote alive.
