The CLARITY Act is running into a shrinking Senate window. Reports cited by Crypto In America and Punchbowl News say the Senate Banking Committee must issue a markup notice by Friday if it wants a vote during the week of April 27. If that deadline slips, the bill’s next step could move into May. At the same time, banking groups are increasing pressure on lawmakers over stablecoin yield language in the draft.
Committee calendar leaves little room this week
At the start of the week, the Senate Banking Committee is focused on Kevin Warsh’s nomination hearing. President Donald Trump selected Warsh to replace outgoing Federal Reserve Chair Jerome Powell, and the hearing is scheduled for Tuesday. That hearing takes time and attention away from crypto legislation. The margin for action is narrow.
Once the hearing is over, the committee has little flexibility if it wants to keep the CLARITY Act on an April track. Without a formal markup notice by Friday, lawmakers may push the process into May, after the Senate returns from recess. For a bill still carrying multiple unresolved policy disputes, even a short delay signals that negotiations are not finished.
Banking groups widen their outreach on stablecoin yield rules
Pressure from banking organizations has picked up in recent days. According to Crypto In America, groups including the North Carolina Bankers Association have focused on Senator Thom Tillis’ office, objecting to parts of the current stablecoin yield provisions. Those sections remain one of the most contested parts of the draft.
Punchbowl News reported that the outreach now extends beyond Tillis and Senator Angela Alsobrooks. Banking representatives have contacted multiple committee members in an effort to secure changes. The campaign comes after months of talks between banks and crypto firms, which produced a compromise draft late last month. That draft has not closed the gap.
Yield, ethics, and DeFi provisions still hold up negotiations
The debate is not limited to yield mechanics. The White House Council of Economic Advisers recently released a report that downplayed risks tied to deposit outflows, and that triggered fresh objections from banking groups. As a result, the stablecoin yield fight has regained momentum just as the committee faces a procedural deadline.
Senator Thom Tillis said discussions are still ongoing and indicated that the committee should consider a May markup timeline. He also proposed a direct meeting involving lawmakers, banks, and crypto representatives to work through the remaining disputes. Negotiators are still reviewing ethics rules and decentralized finance, or DeFi, provisions as well. Those issues remain open, leaving the committee to decide whether to move this month or wait longer.