Senator Elizabeth Warren launched a sweeping attack on the U.S. digital asset market structure bill during a Senate Banking Committee hearing on May 14, calling it an economic threat. The committee still voted 15-9 to advance the bill to the full Senate floor.
Key Takeaways:
The Senate Banking Committee advanced the CLARITY Act 15-9 on May 14, 2026, despite Warren’s 44 amendments and sharp opposition. Warren warned the 309-page bill would “blow up the economy” and “blow a hole” in investor protections dating to 1929. A poll found 52% of Americans support the CLARITY Act, which now needs 60 Senate votes to clear the full chamber.Supporters of the bill pushed back, arguing Warren’s framing mischaracterizes the legislation. For starters, the proposed decentralization test in the bill (which determines whether a digital asset qualifies as a security or a commodity) is not a blanket opt-out from SEC oversight but requires companies to meet defined, verifiable criteria before shifting regulatory jurisdiction to the CFTC.
The Vote, the Numbers, and What Comes Next
