Crypto Market Update: Clarity Act to have over 100 amendments before vote

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• XRP (XRP) Its price was US$1.46, down 1.2 percent in 24 hours.

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Today’s Crypto News to Know

Clarity Act markup faces more than 100 amendments before vote

The US Senate Banking Committee will convene on Thursday (May 14) to review more than 100 proposed amendments to the CLARITY Act. before the final vote Revised 309 page draft Facing intense scrutiny from Democratic lawmakers, Senator Elizabeth Warren alone has introduced more than 40 separate amendments.

The primary point of contention remains the regulatory treatment of yield-bearing stablecoins. Senators Jack Reed and Tina Smith have proposed tighter restrictions on crypto assets that function similarly to traditional deposit accounts, a move heavily supported by recent lobbying efforts from the American Bankers Association.

The banking sector argues that allowing crypto issuers to distribute reserve-backed rewards threatens the traditional deposit base. The markup session will also consider ethics provisions, including a proposal from Senator Chris Van Hollen to bar senior government officials from holding crypto assets.

While supporters argue that the bill provides necessary regulatory certainty, industry figures have expressed skepticism, noting that macroeconomic liquidity remains the primary driver of digital asset valuations.

JPMorgan files for Ethereum-based tokenized money market fund

JPMorgan Chase (NYSE:JPM) has Filed with the US Securities and Exchange Commission Launching JPMorgan Onchain Liquidity-Tokenized Money Market Fund (JLTXX), expanding the bank’s digital asset footprint.

The fund will be operated by JPMorgan’s Kinexis Digital Assets unit and will operate on a permissioned system built on top of the public Ethereum blockchain. JLTXX is specifically structured to invest in U.S. Treasury bills, bonds and notes.

The regulatory filing clearly outlines the distinct risks associated with the offering, including potentially undiscovered technical flaws in the blockchain architecture and the evolving regulatory framework.

While Ethereum serves as the initial underlying network, the bank indicated that expansion to alternative blockchains is expected.

The initiative follows the bank’s recent collaboration with Oondo Finance to settle a tokenized treasury on the XRP ledger.

UBS expands crypto trading

UBS Group (NYSE:UBS) launches direct Bitcoin and Ethereum trading for select private wealth clients in January 2026, marking a significant expansion of mainstream crypto adoption within the Swiss banking sector.

The move aligns UBS with domestic counterparts such as Zurcher Kantonalbank (ZKB) and state-controlled PostFinance, bringing the total number of Swiss banks offering digital asset services to around 20.

Contrary to initial expectations of youth retail adoption, ZKB’s internal data indicates that the key demographic for digital asset custody consists primarily of established male customers between the ages of 30 and 50.

The integration of digital assets is increasingly contributing to institutional profitability. Meraki Baumann and Swissquote report that crypto-related services now account for 20 and 10 percent of their total revenue, respectively.

Furthermore, a recent EY-Parthenon Survey It shows that 73 percent of institutional investors plan to increase their digital asset allocation this year.