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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Can bypass FSC regulations on using credit cards to buy crypto? OdinTing introduces the Wallet Pro service for buying crypto with a U.S. debit card
The OwlPay and Wallet Pro services launched by OdinTin use stablecoin technology to enable B2B cross-border payments, and—by partnering with major international payment players—showcase its ambitions for expansion in the fintech sector. By operating from overseas, OdinTin bypasses Taiwan’s regulatory restrictions, providing fast virtual-asset trading. Meanwhile, as it faces the newly promulgated Virtual Asset Services Act, it is set to become a reference template for other foreign-invested companies entering the Taiwan market.
CryptoCity1h ago
South Africa's FSCA Receives 128 Crypto Exchange License Applications by November 30 Deadline
As of November 30, 2023, South Africa's FSCA received 128 crypto asset service provider license applications. Of these, 19 were withdrawn, 74 are under review, and others have set assessment dates, indicating a push for investor protection in the digital asset space.
GateNews2h ago
Criticized for freezing USDC too slowly! Circle CEO: We will definitely wait for the court’s order before freezing—refusing to freeze privately/by ourselves without authorization
Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or a request from law enforcement. Even amid hacker money-laundering disputes and community backlash, Circle still insists on operating in accordance with the rule of law.
Jeremy Allaire sets Circle’s law-enforcement bottom line
-----------------------------
As the global cryptocurrency market roils, Circle’s CEO Jeremy Allaire, the stablecoin issuer, delivered a clear stance on the most sensitive issue in the market at a press conference in Seoul, South Korea. He pointed out that although Circle has the technical means to freeze specific wallet addresses, unless it receives a court order or a formal instruction from law-enforcement authorities, the company will not take such action on its own.
CryptoCity3h ago
Bitcoin Developers Propose BIP 361 to Protect Against Quantum Computing Threats
Bitcoin developers have proposed BIP 361 to safeguard the network against quantum computer risks by freezing vulnerable addresses. The proposal includes a phased plan to transition users to quantum-safe wallets, but it has sparked debate on user control and security.
GateNews3h ago
IRS Implements Mandatory Cost Basis Reporting for Digital Assets to Combat Tax Evasion
The IRS will enforce mandatory cost basis reporting for digital asset brokers starting April 15, 2026, requiring them to submit Form 1099-DA to report sales and exchanges. This aims to reduce underreporting of capital gains and align cryptocurrency tax reporting with traditional securities.
GateNews4h ago
