Gate News message, April 15 — Senate Banking Committee Chair Tim Scott has not included the CLARITY Act (Digital Asset Market Clarity Act) on his schedule for the week of April 20, signaling delays in advancing crypto’s most prominent regulatory bill. Scott cited three unresolved issues: a stablecoin rewards dispute between banks and crypto firms, outstanding DeFi provisions, and the need to align all Republican committee members, with each issue potentially requiring another two weeks to resolve.
Senator Thom Tillis is expected to release final compromise language on stablecoin yield this week. The proposed framework would ban passive yield on stablecoin balances while permitting activity-based rewards tied to transactions and platform engagement, though banks have pushed back on the draft. Tillis told Politico he remains open to further revisions.
The bill faces a critical May deadline. If it does not reach the Senate floor by May, Senator Bernie Moreno has stated the legislation will likely be shelved for the remainder of 2026 due to midterm election politics. Galaxy Research estimates only 18 working weeks remain before the October midterm recess. Even after a successful committee markup, the bill requires a 60-vote Senate floor threshold, reconciliation with both the Senate Agriculture Committee and House versions (passed July 2025), and presidential signature. Polymarket currently prices CLARITY Act passage in 2026 at 58%, down from 82% earlier this year. Senator Cynthia Lummis warned that if the bill does not pass in this window, the next opportunity may not arise until 2030.
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