The Senate Just Dropped a 309-Page Crypto Bill at Midnight: Will the CLARITY Act Finally Give Institutions the Green Light?

The Senate Banking Committee dropped the full 309-page text of the CLARITY Act just after midnight on Tuesday, May 11, 2026, ahead of a Thursday committee hearing that could advance the most comprehensive crypto market structure legislation the U.S. has attempted. The headline provision: a 1:1 reserve mandate requiring all payment stablecoin issuers to hold high-quality liquid assets against every token in circulatio…