US Senate Advances Clarity Act to Reshape Tokenized Asset Regulation

The US Senate Banking Committee has advanced the Clarity Act with a bipartisan vote of 15-9. If passed into law, the bill could reshape regulation for tokenized assets. Industry giant Grayscale has already identified the likely winners—with Ethereum, Solana, and BNB Chain leading the pack. The Clarity Act moved forward on May 14 after securing cross-party support. Its next steps include a full Senate vote, reconciliation with the House, and a presidential signature. Lawmakers face a tight timeline, as the legislative window narrows before the 2026 midterm elections.

Grayscale’s analysis highlights Ethereum as the dominant platform for tokenized assets. BNB Chain and Solana follow closely behind. The firm also named Canton Network—a key player in institutional finance—as a major beneficiary. This network hosts the DTCC’s pilot for tokenized Treasury securities and includes heavyweights like JPMorgan, HSBC, and Visa among its validators.

Beyond the top four, Grayscale pointed to Avalanche, Base, Arbitrum, Hyperliquid, and Tron as secondary gainers. These chains already support significant on-chain financial activity. Canton Network, meanwhile, stands out as the leading institutional settlement layer, reinforcing its role in regulated markets. The bill’s progress marks a critical step toward clearer rules for digital assets. If enacted, the Clarity Act would formalise the status of Grayscale’s listed networks as regulated platforms. The outcome hinges on upcoming votes and the president’s approval before the legislative deadline.