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Senate Banking Committee Opens Historic Crypto Bill Markup As Warren, Republicans Clash Over CLARITY Act Amendments

Tim Scott defended the bill and the amendment process as chair of the committee conducting its markup.

Senate Banking Committee Opens Historic Crypto Bill Markup As Warren, Republicans Clash Over CLARITY Act Amendments
Image · Bitcoin Magazine

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Outlet credibilityBitcoin Magazine62/100 MEDIUM
This article1 analysis · Oct 6, 2026
tl;dr

The Senate Banking Committee began marking up the CLARITY Act, with Tim Scott and Elizabeth Warren clashing over the bill and which amendments could be considered. Several amendments passed or failed, but the committee’s markup remained ongoing.

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Tim Scott R · SC · SEN
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Tim Scott
R · SC · SEN

Senate Banking Committee chairman overseeing the markup

PRIMARY SUBJECT
Cynthia M. Lummis
R · WY · SEN

Senate champion defending the CLARITY Act

Lummis's version of this story ↗
Elizabeth Warren
D · MA · SEN

Senate Banking Committee ranking member and critic of the bill

Warren's version of this story ↗
Mark R. Warner
D · VA · SEN

Senator who supported Rounds’s amendment and was credited with helping negotiate the bill

Kirsten E. Gillibrand
D · NY · SEN

Former senator cited by Lummis

Jack Reed
D · RI · SEN

Senator who criticized the amendment process

Raphael G. Warnock
D · GA · SEN

Senator named as a participant in the bill’s negotiations

Andy Kim
D · NJ · SEN

Senator who supported Rounds’s amendment

Donald Trump
R · President of the United States

President whose crypto-related gains were alleged by Warren

Senator named as a participant in the bill’s negotiations

Mike Rounds
R · SD · SEN

Senator who proposed an AI regulatory sandbox amendment

Angela D. Alsobrooks
D · MD · SEN

Senator named as a participant in the bill’s negotiations

John Kennedy
R · LA · SEN

Senator who opposed Warren’s DeFi sanctions amendment

David McCormick
R · PA · SEN

Senator whose portfolio-margin amendment passed

Ruben Gallego
D · AZ · SEN

Senator named as a participant in the bill’s negotiations

Part of a bigger story

3 OUTLETS
Senate Banking Committee Advances Digital Asset Market Clarity Act

The Senate Banking Committee marked up the CLARITY Act, with Tim Scott chairing the process and defending the bill and amendment process. Center outlets portray the markup as a dispute over the bill and amendments; some stress Scott’s defense, while another focuses on his decision not to allow a bank-backed stablecoin-yield amendment a vote.

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