TLDR
- Bitcoin climbed back above $81,000, up 2.3% in 24 hours, after the US Senate Banking Committee passed the CLARITY Act in a 15-9 bipartisan vote
- XRP led major altcoins with a 4.5% gain to $1.49, while Dogecoin added 3% to $0.1159
- The CLARITY Act now moves toward a merger with a similar Agriculture Committee bill before a full Senate vote
- US stock futures fell Friday, with the S&P 500 down 0.3% and Nasdaq futures off 0.5%, following the Trump-Xi summit
- Trump’s comments on the Strait of Hormuz pushed Brent crude higher, adding to inflation concerns
Bitcoin climbed back above $81,000 on Friday as the US Senate Banking Committee passed the Digital Asset Market Clarity Act in a 15-9 bipartisan vote. The vote sent XRP and Dogecoin sharply higher, even as US stock futures and broader markets turned lower.
The Clarity Act is a piece of legislation designed to give crypto assets a clearer legal framework in the United States. It separates payment stablecoins from investment assets, which is seen as a positive step for the payments industry.
Bitcoin traded at $81,055 during Asian hours, up 2.3% over 24 hours. It had dipped below that level earlier in the week following a producer price index print.
XRP was the standout performer, gaining 4.5% to $1.49 and extending its seven-day run to 7.6%. XRP has been closely watched because of the long-running SEC lawsuit against Ripple Labs, and clearer US rules are seen as removing a legal overhang from the token.
Dogecoin added 3% to $0.1159, up 8.9% over seven days. BNB gained 2% to $681 and Solana climbed 2% to $91.
Senate Banking Committee Chairman Tim Scott secured the vote by allowing late amendments, which brought two Democratic votes on board. Senator Elizabeth Warren objected to the procedural move, saying the final bill was not the deal she had agreed to.
BREAKING: 🇺🇸 Senate Banking Committee PASSES the Clarity Act in 15-9 vote.
The bill now goes to the full Senate. pic.twitter.com/TCs6T283y2
— Bitcoin Magazine (@BitcoinMagazine) May 14, 2026
The bill now heads toward a merger with a version passed earlier by the Senate Agriculture Committee. After that, it faces a full Senate vote and then the House. Several issues remain unresolved, including law enforcement concerns and an ethics provision flagged by Democrats.
What the Clarity Act Means for Crypto
Renna Ba, head of ecosystem at Layer-2 network Morph, said the bill gives the global payments industry the legal foundation it has needed to build with confidence.
CK Zheng, co-founder of ZX Squared Capital, said the regulatory progress supports the view that bitcoin’s bear market bottom was likely set in the first quarter. He pointed out that the current drawdown from peak levels is around 50%, shallower than the 78% decline seen in the 2022 cycle.
Zheng also flagged Strategy’s STRC preferred stock launch, which has drawn $8.5 billion in institutional interest at an 11.5% dividend yield.
Stock Futures Fall After Trump-Xi Summit
On the equities side, futures pointed lower Friday morning. Dow futures fell 0.2%, S&P 500 futures dropped 0.3%, and Nasdaq 100 futures were down 0.5%.
The Trump-Xi summit in Beijing ended on a business-friendly note, with 16 US executives joining the trip. Boeing and Nvidia were among companies that secured new deals. However, diplomatic issues around Taiwan and Iran remain unresolved.
After Thursday’s close, Applied Materials and Figma shares jumped on strong earnings tied to AI demand. During regular trading Thursday, the Dow had hit 50,000 and the S&P 500 and Nasdaq both reached new highs.
Trump’s comments that the US does not need to reopen the Strait of Hormuz pushed Brent crude higher, adding to inflation worries. The 10-year Treasury yield rose four basis points to 4.52%, and the dollar gained for a fifth straight day.
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