Clarity Act Markup Slips to May as Senate Faces Banking and Internal Pressure

Highlights:

• The CLARITY Act markup now appears set for May, as Senate Republicans disagree over timing.
• Senator Thom Tillis wants more time as banks push back on stablecoin yield.
• Crypto industry groups are pressing the Senate to act before the legislative window narrows.

The United States Senate is moving closer to a major vote on crypto market structure legislation, but progress is stalling. According to a Wednesday report by Crypto in America, a growing disagreement among Republican senators is pushing the timeline further back.

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The Clarity Act, a bill that would establish clear rules for regulating digital assets in America, now looks unlikely to advance in April. Instead, a markup session, the formal process in which lawmakers review and amend the bill, is expected to occur in May at the earliest.

The development comes at a critical time for the crypto industry, which has been waiting months for Congress to act on clear digital asset rules.

Sen. Tillis Pushes CLARITY Act Markup to May

Senator Thom Tillis of North Carolina, a Republican on the Senate Banking Committee, told reporters on Tuesday that he does not expect the markup to take place this month. He has asked the committee’s leadership, including Chairman Tim Scott of South Carolina, to hold off until May. He pointed to the week of May 11 as the first realistic window, since the Senate is in recess before then.

Tillis said he wants to make sure all stakeholders have a chance to be heard before the committee moves forward. “It’s very important to me not to accelerate things, to hear everybody, and give them a rational basis for what we do accept,” he told reporters.

His request comes as his office faces pressure from banking industry groups, including the North Carolina Bankers Association. 

Banks have expressed concerns about parts of a stablecoin yield compromise reached earlier this month between a select group of crypto firms and banks, even though the full text of that deal has not been publicly released. Many banks say they have not even seen the details yet, which is part of why they are pushing back.

Not Everyone Agrees with the Delay

Not all senators are comfortable with waiting. Senator Cynthia Lummis of Wyoming, a longtime crypto supporter, made her frustration clear.

“Further delay is unacceptable,” Lummis said in a statement. “I’m really proud of the bipartisan progress we’ve made, and I’m not going to let some of my colleagues sacrifice substantive and good progress in futile pursuit of a perfect bill that will never come. The offshore risk is real and our window is closing. It’s time to finally get this done.”

Lummis is warning that delays give other countries more time to attract crypto businesses that might otherwise set up in the United States. If Congress takes too long, companies may simply move overseas, where regulations are already defined.

Senator Bernie Moreno of Ohio is also pushing for faster action. Speaking at an event in Washington, DC, on Tuesday evening, Moreno said he expects lawmakers to pass the CLARITY Act by the end of May. Last month, he also warned that if Congress does not pass the bill by May, crypto legislation could fall off the agenda for the foreseeable future.

On the banking industry’s objections to stablecoin yield, Moreno was direct. “There’s a lot of noise in the system and it’s completely fake,” he said, urging banks to “get going with innovation.”

🚨NEW: At an event in DC this evening, Senator @berniemoreno was asked about the timeline for crypto market structure legislation.

“I think we’re going to get it done by the end of May,” he said.

The Ohio Republican warned last month that if the Clarity Act isn’t passed by May,… https://t.co/wKkIwF7tBT

— Eleanor Terrett (@EleanorTerrett) April 22, 2026

The Crypto Industry Is Running Out of Patience

The Clarity Act already passed the House of Representatives over 270 days ago. Now it is sitting in the Senate, waiting for a markup that keeps getting pushed back. The crypto industry, which had originally expected a markup on market structure legislation last September, is growing increasingly frustrated.

On Monday, The Digital Chamber, an industry trade group, sent a letter to the Banking Committee’s leadership urging them to move to a markup as soon as possible. The letter noted it has been more than 270 days since the House passed the Clarity Act and warned the legislative window is narrowing. More letters from other industry groups are expected in the coming days.

Today, we sent a letter to @BankingGOP leadership urging the Committee to move digital asset market structure legislation to markup and continue improving the bill in a transparent, deliberative, and bipartisan manner. Read our full letter: https://t.co/muPdJ8xq5m pic.twitter.com/ZHZX4PLA8e

— The Digital Chamber (@DigitalChamber) April 20, 2026

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