Senator Elizabeth Warren has submitted more than 40 amendments to the CLARITY Act, with one particularly significant amendment that would block the Federal Reserve from issuing master accounts to crypto companies, including Ripple. According to latest reports, this amendment represents a major challenge to the bill's core provisions regarding crypto infrastructure access. The amendments come as the CLARITY Act is moving faster than at any point in its legislative history, with the Senate Banking Committee releasing a 309-page draft on May 12 and scheduling a markup for May 14. The White House is pushing for Trump to sign the legislation before July 4, with prediction markets currently putting the odds of the Act becoming law in 2026 at around 55%.
Yellow Network chairman Alexis Sirkia argues that years of regulatory uncertainty have pushed crypto builders to Dubai and Singapore due to easier regulatory environments. As reported by Yellow Network, Sirkia explains that crypto companies have spent years trying to figure out which regulator they answer to and whether rules might suddenly change after launch. This uncertainty affects everything from fundraising to banking relationships to hiring, creating friction that infrastructure companies cannot scale globally if rules change every few months.
If the CLARITY Act passes despite Warren's amendments, Sirkia expects founders and engineering talent to remain in the U.S. rather than default to easier regulatory environments. According to Yellow Network, he points to the bill's provisions around disclosure standards, AML requirements, and oversight structures as foundations that allow companies to make long-term decisions around capital and hiring. The legislation would give U.S. crypto builders a stable legal framework and enable them to launch products without fear of retroactive enforcement years down the line.
Senator Bernie Moreno has set a hard end-of-May deadline, warning that missing the window could shelve the legislation for years. As reported by Yellow Network, Sirkia's definition of success includes founders launching products in the U.S. without fear of retroactive enforcement and banks treating crypto infrastructure as a legitimate counterparty rather than a compliance liability. He views the CLARITY Act as an important signal that the U.S. wants to play a serious role in the future of digital finance, affecting everything from stablecoins to tokenized assets to next-generation trading infrastructure.
