{ "id": 78737, "date": "2026-05-08T09:07:39", "date_gmt": "2026-05-08T02:07:39", "guid": { "rendered": "https:\/\/hbbgroup.net\/clarity-act-markup-could-happen-as-early-as-next-week-coinbase-exec\/" }, "modified": "2026-05-08T09:07:39", "modified_gmt": "2026-05-08T02:07:39", "slug": "clarity-act-markup-could-happen-as-early-as-next-week-coinbase-exec", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/clarity-act-markup-could-happen-as-early-as-next-week-coinbase-exec\/", "title": { "rendered": "CLARITY Act markup could happen as early as next week: Coinbase exec" }, "content": { "rendered": "
\n

The CLARITY crypto market structure bill could see a markup in the US Senate Banking Committee as early as next week, according to\u00a0Kara Calvert, the vice president of US policy at crypto exchange Coinbase.<\/p>\n

\u201cMy prediction is that we have a markup next week,\u201d Calvert told<\/a> the audience at the Consensus 2026 crypto industry conference in Miami, Florida.<\/p>\n

She said that the bill needs at least 60 votes to pass in the Senate and that the CLARITY bill needs bipartisan support to become law. She said:<\/p>\n

\u201cThat means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?\u201d<\/p><\/blockquote>\n

<\/figure>\n

Kara Calvert, pictured on the left, provides an update on the CLARITY market structure bill. Source: <\/em>Consensus 2026<\/em><\/a><\/p>\n

A HarrisX survey<\/a> on Thursday revealed that there is strong, broad-based and consistent demand for clear federal rules. A 70% majority of voters say the US should already have passed clear cryptocurrency legislation, and 62% say it is important that the US set the global rules for digital finance.<\/p>\n

The CLARITY bill stalled in January after Coinbase withdrew its support for the legislation, citing several concerns, including a lack of legal protections for open source software developers, a prohibition on stablecoin yield<\/a>, and decentralized finance (DeFi) regulations.\u00a0<\/p>\n

Related: <\/strong><\/em>US senator says crypto market structure vote may happen by August<\/strong><\/em><\/a><\/p>\n

Coherent tax policy remains a barrier to institutional adoption <\/h2>\n

A lack of coherent tax policies is the main \u201cbarrier\u201d to institutional crypto adoption, Calvert said, adding that tax reform is a bigger issue for institutions than market structure legislation.<\/p>\n

Many of these institutions just want to buy and hold cryptocurrencies or trade digital assets, but are burdened by tax compliance and reporting requirements, she said.<\/p>\n

<\/figure>\n

A HarrisX poll shows there is broad bipartisan support for passage of the CLARITY Act. Source: <\/em>HarrisX<\/em><\/a><\/p>\n

Tax reporting requirements under the current regulations mean the Internal Revenue Service (IRS) forces crypto exchanges to document every crypto transaction<\/a> using 1099-DA forms, she added.<\/p>\n

\u201cWe’re sending out millions of 1099-DA\u2019s for things like $1 transactions \u2014 that makes zero sense,\u201d Calvert said.<\/p>\n

She added that she \u201chopes\u201d tax reform legislation can advance through Congress in 2026, citing several crypto tax proposals submitted by US lawmakers, including the Digital Asset PARITY Act<\/a>, introduced by Representatives Max Miller and Steven Horsford in March.<\/p>\n

\u201cI think that we will see action in the Senate. I think we will see legislation, probably in the next month or two, in the House,\u201d she said.<\/p>\n

Magazine: <\/strong><\/em>Will the CLARITY Act be good \u2014 or bad \u2014 for DeFi?<\/strong><\/em><\/a><\/p>\n<\/div>\n

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph\u2019s Editorial Policy<\/a> and aims to provide accurate and timely information. Readers are encouraged to verify information independently. <\/p>", "protected": false }, "excerpt": { "rendered": "

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