A Congressional Research Service report published September 30, 2026, examined how competing versions of the CLARITY Act would alter U.S. banks' authority to conduct crypto-related business. The Senate-reported version of H.R. 3633 would permit 11 categories of activities for banking organizations and credit unions, including digital-asset underwriting and dealing, without preserving the current distinction between insured banks and nonbank subsidiaries. CRS said those underwriting and dealing permissions could exceed banks' authority in comparable traditional securities markets. The House-passed bill would instead allow banks to use digital assets or blockchain technology for activities already permitted by law and authorize certain crypto services for financial holding companies' nonbank subsidiaries. The Senate rejected cloture on a motion to proceed with the measure, 49-50, on September 15, leaving it short of the 60 votes needed to begin debate. Banking groups have separately urged lawmakers to limit stablecoin rewards they say could pull deposits from lenders, while the Federal Reserve has proposed rules for payment-stablecoin reserves and bank applications to issue stablecoins under the GENIUS Act.