Key Highlights
- Recent HarrisX polling of 2,008 registered voters reveals 52% back the CLARITY Act while just 11% stand against it
- Seven in ten voters believe Congress should have already established clear digital asset regulations
- Senate Banking Committee markup vote could occur as soon as May 14
- Coinbase’s Kara Calvert emphasizes the legislation requires a minimum of 60 Senate votes along with bipartisan backing
- Tax reporting requirements, rather than market structure frameworks, represent the primary obstacle to institutional digital asset integration
A comprehensive crypto market structure proposal known as the CLARITY Act is advancing toward a Senate vote following fresh polling data that demonstrates robust voter approval spanning political affiliations.
The HarrisX research, conducted among 2,008 registered American voters, reveals that 52% express support for the legislation, drawing endorsement from Republicans, Democrats, and Independents alike. Opposition stands at merely 11%.
Polling data further indicates that 70% of respondents consider Congress overdue in establishing comprehensive crypto regulations. An additional 62% view American leadership in establishing global digital finance standards as a priority.
During remarks at the Consensus 2026 conference in Miami, Kara Calvert, who serves as Vice President of US Policy at Coinbase, indicated her expectation that the Senate Banking Committee will conduct a markup of the legislation as early as the upcoming week.
Crypto journalist Eleanor Terrett has reported that the committee intends to schedule the markup for a May 14 vote.
Calvert highlighted that passage in the Senate demands a minimum of 60 votes, making Democratic participation essential.
“That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds,” she said.
Democratic Backing Remains Uncertain
While voters express strong enthusiasm, the legislation has yet to achieve complete bipartisan endorsement within the Senate Banking Committee. Committee chair Tim Scott has expressed his desire to move the bill forward with cross-party collaboration, though every Democrat on the committee may oppose it.
Democratic Senator Kirsten Gillibrand has cautioned that passage appears doubtful without an ethics provision. Democrats continue pressing for this clause to address President Trump’s crypto business ventures.
Senator Elizabeth Warren, holding a ranking position on the Senate Banking Committee, maintains her opposition to the measure.
The CLARITY bill experienced a setback in January when Coinbase retracted its support, expressing concerns regarding open source software protections, restrictions on stablecoin yield, and DeFi regulatory frameworks.
Taxation Policy Creates Institutional Barriers
Calvert identified ambiguous tax policy as the most significant obstacle to institutional crypto adoption, surpassing even market structure legislation in importance.
Current regulations mandate that the IRS requires crypto exchanges to document every transaction through 1099-DA forms, including minimal-value trades.
“We’re sending out millions of 1099-DA’s for things like $1 transactions — that makes zero sense,” Calvert said.
She expressed optimism that tax reform could advance through Congress during 2026. She referenced the Digital Asset PARITY Act, which Representatives Max Miller and Steven Horsford introduced in March, as a potential reform pathway.
Senator Cynthia Lummis responded to the polling results, stating that the American people have delivered a clear message about the country’s need to lead in digital assets.
Senator Bernie Moreno, who prevailed over crypto skeptic Sherrod Brown in 2024, anticipates President Trump could sign the CLARITY Act into law by July 4.
