Key Highlights
- The Digital Asset Market CLARITY Act advanced out of the Senate Banking Committee with a 15-9 bipartisan vote, with Democratic Senators Ruben Gallego and Angela Alsobrooks joining all Republicans.
- Coinbase surged 10% to $216, Strategy rallied 6.6% to $190, MARA gained ~7% to $13.40, and Bitcoin reclaimed $81,496 (+2.53%), while Circle dipped 1.17% and Riot fell 1.54%.
- The bill now faces reconciliation with the Senate Agriculture Committee version, a 60-vote full Senate floor fight, and House reconciliation before reaching the President’s desk.
The cryptocurrency industry scored a key win on Thursday after the Senate Banking Committee approved the Clarity Act, the first wide-ranging piece of legislation pertaining to the digital asset industry. The bill cleared the committee with a 15-9 vote, receiving bipartisan support as Democratic Senators Ruben Gallego and Angela Alsobrooks voted in favor of advancing it alongside all 13 Republicans.
The vote triggered a sharp rally in crypto-linked equities, though the move was uneven — favoring exchange and Bitcoin treasury plays over miners and stablecoin infrastructure names.
Crypto Stock Scoreboard: Live Prices
Live Prices — May 14, 2026:
| Stock | Ticker | Live Price | Day Move |
|---|---|---|---|
| Coinbase | COIN | $216.01 | +10% |
| Strategy | MSTR | $189.90 | +6.67% |
| MARA | MARA | $13.40 (from Robinhood) | +7.6% from day low |
| Circle | CRCL | $125.09 | -1.17% |
| Riot | RIOT | $24.54 | -1.54% |
| CleanSpark | CLSK | $13.79 | +3.68% |
| Hut 8 | HUT | $107.23 | -1.01% |
Coinbase (NASDAQ: COIN) jumped 10% to $216.01, leading the session as the exchange most directly positioned to benefit from clear SEC-versus-CFTC jurisdictional lines. COIN traded in a wide range of $195.10 to $222.35 on the day, with volume reaching 10.31 million shares against a daily average of 9.73 million. The stock carries a P/E multiple of 78.08 and a market cap of $57.2 billion. Benchmark recently raised its Coinbase price target to $270 from $260, while Needham reiterated a Buy rating with a $300 target citing growing market share and stablecoin leadership.
Strategy (NASDAQ: MSTR) rallied 6.67% to $189.90. The stock traded between $174.64 and $193.00 on the day, with volume at 9.95 million shares. Strategy holds 818,869 BTC at an average cost basis of approximately $75,540, with a total portfolio value of roughly $61.86 billion and a BTC yield of 9.4% year-to-date. The stock has a 52-week range of $104.17 to $457.22.
MARA Holdings (NASDAQ: MARA) traded at $13.40, moving within a range of $12.45 to $13.70 — approximately 7.6% above its intraday low. Trading volume hit 28.92 million shares. The Bitcoin miner operates 72.2 EH/s of hashrate and is up 51% year-to-date, partly driven by its pivot to artificial intelligence and a data center partnership with Starwood targeting hyperscaler contracts.
Bitcoin (BTC) reclaimed the $81,000 level, trading at $81,496.49, up 2.53% — a notable reversal after slipping below $80,000 earlier in the week. The move above $81K came as the vote result confirmed, providing a bullish catalyst that had been priced in with medium confidence.
The rally was not uniform. Circle (NYSE: CRCL) dipped 1.17% to $125.09 despite being arguably the most structurally levered name to CLARITY Act passage through its USDC business. Riot Platforms (NASDAQ: RIOT) fell 1.54% to $24.54, and Hut 8 (NYSE: HUT) slipped 1.01% to $107.23. CleanSpark (NASDAQ: CLSK) was the exception among miners, gaining 3.68% to $13.79.
The divergence confirms what the early-May trading pattern already signaled: the CLARITY Act is driving exchange and treasury stocks, Bitcoin price is driving miners, and reading all names as the same trade is the analytical error.
What Happened Inside Room 538
The CLARITY Act cleared the committee with a 15-9 vote. Democratic Senators Ruben Gallego and Angela Alsobrooks joined all Republicans to advance the bill. Alsobrooks stated that her support in committee would not translate into support on the floor unless outstanding issues were addressed.
Senators debated and voted on dozens of amendments through the hearing, adopting several Republican amendments, including some on a bipartisan basis. Senator Mark Warner indicated he might be inclined to vote in favor if amendments received individual votes, while Senator Gallego similarly suggested he might vote in favor.
Chairman Tim Scott opened the hearing by saying the bill would keep innovation in the U.S. by updating “outdated rules” while giving law enforcement better tools. Senator Cynthia Lummis called it the “hardest piece of legislation” she has ever worked on. Senator Elizabeth Warren criticized the bill, arguing it was “just not ready” and calling it legislation “written by the crypto industry for the crypto industry.” Warren cited a CoinDesk-commissioned survey showing just 1% of U.S. voters consider crypto a top priority heading into the 2026 elections.
Ripple CEO Brad Garlinghouse called the committee vote a defining moment, while Circle’s Chief Strategy Officer Dante Disparte called it “meaningful, bipartisan progress.” Coinbase CEO Brian Armstrong backed the bill from Capitol Hill, while the broader crypto industry lobbying effort behind pro-crypto candidates exceeded $119 million in 2024 spending.
What the CLARITY Act Does
The bill creates a comprehensive regulatory framework for digital assets by classifying them as securities or commodities with established boundaries between the SEC and CFTC. The stablecoin yield compromise bans passive yield on stablecoins but permits activity-based rewards tied to actual transactions, trading volume, or platform use.
Banks oppose the bill, arguing it creates competition for deposits by giving crypto firms too much leeway to offer stablecoin rewards. Many Democrats argue its anti-money laundering provisions are too weak and want ethics provisions barring political officials from profiting from crypto ventures. The bill needs at least seven Democratic votes to pass the full Senate.
What Comes Next
The measure has a long way to go before becoming law. It needs to clear the full Senate, be reconciled with the House version, and reach President Trump’s desk. The bill must first be merged with the Senate Agriculture Committee version, then debated and voted on the Senate floor, where 60 votes will be needed.
During Thursday’s hearing, Republicans and Democrats committed to continuing work on areas of disagreement, including ethics language to address elected officials who have profited from crypto. Senator Mark Warner said he had been in “crypto hell the last couple months” but hoped to “get to crypto heaven.”
The White House has targeted July 4 for the President’s signature. Congress heads into Memorial Day recess on May 21, and the caveat investors should not lose sight of is that a committee vote is one step in a multi-stage legislative process, and crypto legislation has been delayed multiple times before.
Also Read: Crypto’s CLARITY Act Survives Senate Showdown, Advances 15-9
