The Senate is scheduled to vote Thursday May 14 on the CLARITY Act, the long-pending market-structure bill that would convert Bitcoin's commodity status from administrative guidance into federal statute. Polymarket pegs odds at 75% it becomes law this year. A clean passage would solidify the CFTC's spot crypto jurisdiction and clarify token classification well beyond what GENIUS did for stablecoins last summer. Senators Tillis and Alsobrooks already reached a bipartisan compromise on stablecoin yield rules that banned passive interest while permitting activity-based rewards.
The institutional plumbing for crypto in the US keeps getting built faster than the discourse suggests. Worth watching what happens to BTC if the vote breaks bipartisan.