David Sacks Calls CLARITY Act a Key Step for U.S. Crypto Policy

• David Sacks said Thursday’s CLARITY Act markup is a major step for U.S. crypto leadership.
• The Senate Banking Committee is set to consider the bill during a May 14 markup.
• Sacks thanked Senator Tim Scott, Patrick Witt, Senate staff, and crypto industry supporters.

David Sacks said tomorrow’s CLARITY Act markup marks a major step toward making the United States the “Crypto Capital of the World.” His post came as the Senate Banking Committee prepares to consider the Digital Asset Market Clarity Act in a closely watched Thursday session.

The update added fresh White House-linked support before one of the most important U.S. crypto policy votes of 2026. Sacks said roughly 50 million people in the U.S. own or use crypto, and he argued that the bill would help the ecosystem “innovate and flourish for years to come.”

Sacks Backs Senate Push

Sacks said the CLARITY Act markup is “a monumental step” for U.S. crypto policy. He also said the bill would help preserve America’s leadership in innovation as lawmakers try to create clearer rules for digital assets.

He thanked Senate Banking Committee Chairman Tim Scott and the committee for working on the compromises needed to move the bill forward. He also thanked White House crypto director Patrick Witt for helping the process reach this stage.

Notably, Sacks also credited the crypto industry for its efforts. His comments followed Senator Scott’s statement that families, small businesses, investors, and innovators need clear rules for digital assets.

The Senate Banking Committee is expected to consider the bill on May 14. Reuters reported that the bill aims to create a broader federal framework for crypto markets, including rules for stablecoins, DeFi, exchanges, and tokenized assets.

CLARITY Act Targets Market Rules

The Senate version of the CLARITY Act would set rules for digital asset markets and clarify how regulators handle crypto products. Reuters reported that exchanges, brokers, and dealers would fall under Bank Secrecy Act duties, including anti-money laundering and customer due diligence requirements. 

The bill also addresses stablecoin rewards. It would ban interest payments on idle stablecoin balances, while allowing rewards tied to transaction-based uses, according to Reuters. 

Additionally, the proposal would define when DeFi platforms are truly decentralized and when they must follow financial institution rules. It also says tokenized traditional assets do not escape securities laws simply as they move on-chain. 

Previously, Coin Edition reported that crypto stakeholders viewed the markup as a positive step. The report said Michael Saylor argued that the bill could help unlock digital capital, digital credit, and digital equity markets.

Vote Still Faces Hurdles

The bill still faces political and industry pressure before becoming law. Reuters reported that the Senate Banking Committee review comes after the House passed its version in July 2025, and the Senate version still needs broader support. 

Banking trade groups remain concerned about stablecoin rewards. Reuters reported that the Tillis-Alsobrooks compromise bans rewards on idle balances but allows transaction-linked incentives, a structure banks say could still affect deposits. 

Meanwhile, sources said that the Senate Banking text runs 309 pages and includes disclosure rules, cybersecurity provisions, insider trading rules, consumer protections, and post-quantum cryptography language. 

For now, Sacks’ post gives the markup a stronger public signal from the administration’s crypto policy circle. Thursday’s vote will show whether months of compromise are enough to move the CLARITY Act into the next stage of the Senate process.

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