18 Working Days. Five Hurdles. One Window.
The most important vote in crypto this year has a date: the week of May 11.
Senate Banking Committee Chairman Tim Scott confirmed a markup window for the Digital Asset Market Clarity Act (CLARITY Act). The Tillis-Alsobrooks stablecoin yield compromise text dropped May 1, finally clearing the main roadblock that had stalled the bill for six months. Now the clock is running.
Here's what actually has to happen before this bill reaches Trump's desk:
- Senate Banking Committee markup -- week of May 11
- Senate floor vote -- needs 60 votes to break filibuster
- House-Senate conference -- reconcile with the House version (passed 294-134 in July 2025)
- Final passage in both chambers
- Presidential signature
Five sequential hurdles. One committee. Three weeks until Memorial Day recess on May 21.
The stakes are that brutal. Senator Bernie Moreno said it flat: "If we miss May, this doesn't happen until 2030." Senator Lummis echoed it. Tim Scott went on Fox Business saying the bill is "in the red zone." Polymarket traders have passage odds at 64% -- the highest since the April delay.
What the compromise does: bans passive yield (earning interest just for holding stablecoins) but allows activity-based rewards tied to actual platform use. Coinbase called it "time to get CLARITY done." The banking lobby is already escalating pressure on remaining holdouts.
Eighteen working days. That's the window between now and June when floor time disappears into the midterm calendar.