The CLARITY Act, a major U.S. legislative effort aiming to define rules for cryptocurrencies and stablecoins, is approaching a key vote in the Senate after a year of delays. Wyoming Senator Cynthia Lummis, a prominent digital asset advocate and current member of the Senate Banking Committee, announced at the DC Blockchain Summit that the committee plans a markup session in April, immediately following the Easter recess.
Senate Banking Committee Sets April Session
Senate Banking Committee Chairman Tim Scott is leading the review process. The panel originally postponed a decision in January amid prolonged disagreements. The House of Representatives passed the bill in July 2025, but Senate progress stalled due to contentious debates over stablecoin yield arrangements between banks and crypto industry groups.
Stablecoin Yield Accord Nears As DeFi Concerns Eased
The CLARITY Act’s path has centered on how to regulate stablecoin rewards and yields, which became a flashpoint between traditional financial institutions and the crypto industry. Over months of negotiations, both sectors have disagreed on the correct framework for yield distribution. Lummis shared that significant ground has been gained toward compromise.
“We are so close this time,” she told conference attendees, and her office stated that an agreement on the yield issue may arrive within days.
Decentralized finance was another sticking point, particularly for Democratic lawmakers worried about potential illicit activity risks. Lummis conveyed that consensus on DeFi regulatory measures has been achieved, clearing one of the hurdles that delayed advancement.
Other outstanding topics include money transmitter licensing and clarifying whether cryptocurrencies should be overseen as securities or commodities. Lawmakers are simultaneously adjusting rules on ethics disclosures for elected officials with digital asset holdings.
Tight Legislative Deadline Fuelled By Election Pressure
Legislators face a compressed window for passing the bill before shifting political dynamics after the upcoming midterm elections. Ohio Senator Bernie Moreno, one of the act’s supporters, warned summit participants that missing the May deadline would likely result in digital asset reform being postponed for years.
“If we don’t get the CLARITY Act passed by May, digital asset legislation will not pass for the foreseeable future,” Moreno stated.
Senate Majority Leader John Thune last week acknowledged the committee would push deliberations into April, matching Lummis’s forecast. The White House has reportedly hosted three meetings in 2026 with stakeholders from both crypto and banking segments to accelerate progress, and this executive engagement is viewed as a significant factor in moving the bill forward.
Lummis, who disclosed in December that she would not seek another Senate term, has outlined the CLARITY Act as a key focus in her remaining months in office. Meanwhile, Polymarket, a blockchain-powered prediction marketplace, is currently pricing the likelihood of the bill becoming law in 2026 at 62%.
