Momentum behind the U.S. CLARITY Act has slowed again. By the end of the week, the Senate Banking Committee had not indicated that a markup would be scheduled for next week, and the lack of notice has effectively shut the April path, moving expectations into May.
Eleanor Terrett reported that neither Senator Tim Scott nor Senate Banking Committee Republicans provided any update on a markup schedule. Friday had been treated as the informal deadline for announcing proceedings before the Senate heads into recess. Hearings can still be arranged on short notice, but without formal communication, an April markup now looks far less likely. The calendar is tightening fast, with the Senate set to begin a one-week recess on Thursday.
Attention turns to the second week of May
Industry and Senate sources are now pointing to the second week of May as the more likely window. That shift matters because the bill’s short-term path is now tied not just to scheduling, but to whether Senate coordination improves and whether disputes tied to stablecoins can be settled first.
Competing priorities inside the chamber are also part of the delay. Committee leadership may be focused on a confirmation vote for Federal Reserve Chair nominee Kevin Warsh before returning to crypto legislation. With limited floor time available, that creates another obstacle for a bill already facing a compressed timetable.
Stablecoin yield dispute remains a sticking point
Senator Thom Tillis has asked for more time to engage with banking groups on the issue of stablecoin yield. He has also pushed for draft bill text to be released publicly before markup. So far, no draft has circulated. That leaves little basis for a near-term schedule.
The delay has added to concern inside the crypto policy community. Commentator Nic said a key deadline passed without movement, a sign that momentum for immediate progress is weakening. The Senate calendar is also getting tighter ahead of the Memorial Day recess, and more delay could leave the bill facing deeper uncertainty or reduce its chances of advancing this year.
Industry groups step up pressure
Lobbying efforts have not eased. The North Carolina Blockchain Initiative recently urged Senator Tillis to move the bill forward, arguing that opposition from banking groups over yield-bearing stablecoin products does not reflect the broader view across the industry or among state-level policymakers.
The group said restrictions on yield-bearing stablecoins could push innovation offshore. It also framed the CLARITY Act as important to U.S. competitiveness in digital assets, pointing to financial centers such as Charlotte. For now, the bill’s next move depends heavily on whether the Senate can align internally and resolve the stablecoin-related disagreements before mid-May.