TechFlow News, May 8: According to a Cointelegraph report, Kara Calvert, Vice President of U.S. Policy at Coinbase, stated at the Miami Consensus 2026 conference that the CLARITY Cryptocurrency Market Structure Act could undergo markup hearings as early as next week before the U.S. Senate Banking Committee. However, the bill requires at least 60 votes to pass the Senate, making bipartisan support critical. A recent HarrisX poll shows that 70% of voters believe the U.S. should already have enacted clear cryptocurrency legislation, and 62% support U.S. leadership in establishing global digital finance rules.
Additionally, Calvert noted that unclear tax policy remains the biggest barrier to institutional adoption of crypto assets. Currently, the IRS requires exchanges to issue Form 1099-DA for every transaction—including those as small as $1—imposing an excessive compliance burden. She expects related tax reform legislation to make progress in Congress within the next one to two months.
