As of April 15, 2026, the CLARITY Act has been removed from the US Senate schedule, putting one of the country’s most closely watched crypto market structure bills in a weaker position. The House had already passed the measure by a 294-134 bipartisan vote, but the Senate path has become much harder, raising doubts about whether the bill can move in 2026.
Stablecoin yield debate remains the main obstacle
The central dispute is over stablecoin yields. Lawmakers have spent months arguing over whether users of digital dollars should be allowed to earn interest. According to the report, Senator Thom Tillis is expected to release a final draft this week in an attempt to settle the issue.
The compromise described in the article is narrow and restrictive. It would ban passive yield, meaning holders could not earn interest simply by keeping a stablecoin in their wallet, while still allowing rewards tied to actual activity such as payments or transfers. Coinbase has publicly backed that approach, but large banks remain opposed. That split between crypto firms and traditional banking interests is cited as a major reason Senate Banking Chair Tim Scott did not place the bill on the calendar for the week of April 20.
Late April could decide the bill’s path
The next few days appear critical. The report says that if the Senate Banking Committee does not move by April 25, the bill could effectively lose its chance this year. The legislative window is narrowing fast.
The timing matters because the 2026 midterm elections are getting closer, a period when bipartisan cooperation on major legislation often becomes harder. Senator Cynthia Lummis and others have also warned that the bill would need 60 votes to clear the full Senate. If the markup process is not completed this month, the current delay could become a year-long stall, and some observers believe any meaningful movement may slip into 2027.
Industry and officials are waiting for the final text
Despite the setback, support for the bill has not disappeared. SEC Chair Paul Atkins and Treasury Secretary Scott Bessent are still pushing for a quick vote. Ripple CEO Brad Garlinghouse has also said a deal may be closer than it appears.
For now, attention is fixed on the final language expected from Tillis. If the committee acts quickly, a Senate floor vote could still happen in May. If banking opposition or political disagreements trigger another delay, one of the most important US crypto regulation efforts in recent years may lose momentum for the rest of 2026.